Ultragenyx Pharmaceutical Inc (RARE) Shares Gap Down Following Analyst Downgrade

Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) shares gapped down prior to trading on Friday after Wedbush downgraded the stock from an outperform rating to a neutral rating. The stock had previously closed at $70.87, but opened at $71.99. Wedbush now has a $75.00 price target on the stock, down from their previous price target of $80.00. Ultragenyx Pharmaceutical shares last traded at $69.63, with a volume of 932,440 shares.

Several other analysts have also recently commented on the stock. Cowen and Company reiterated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 17th. Canaccord Genuity reiterated a “buy” rating and issued a $100.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Thursday, March 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $109.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 17th. Zacks Investment Research cut shares of Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Wednesday, January 4th. Finally, Piper Jaffray Companies restated a “neutral” rating on shares of Ultragenyx Pharmaceutical in a research report on Thursday, March 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. Ultragenyx Pharmaceutical has an average rating of “Buy” and an average target price of $83.14.

In other Ultragenyx Pharmaceutical news, insider Theodore Alan Huizenga sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $86.34, for a total value of $215,850.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Shalini Sharp sold 12,000 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $80.14, for a total transaction of $961,680.00. Following the completion of the transaction, the chief financial officer now owns 63,887 shares in the company, valued at $5,119,904.18. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock worth $2,258,730 over the last 90 days. Insiders own 10.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in RARE. Pacer Advisors Inc. increased its position in Ultragenyx Pharmaceutical by 9.4% in the third quarter. Pacer Advisors Inc. now owns 2,237 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 192 shares in the last quarter. Turner Investments LLC acquired a new position in Ultragenyx Pharmaceutical during the fourth quarter worth about $176,000. A.R.T. Advisors LLC acquired a new position in Ultragenyx Pharmaceutical during the fourth quarter worth about $239,000. BlackRock Inc. increased its position in Ultragenyx Pharmaceutical by 6.8% in the third quarter. BlackRock Inc. now owns 4,244 shares of the biopharmaceutical company’s stock worth $301,000 after buying an additional 271 shares in the last quarter. Finally, Rothschild Asset Management Inc. increased its position in Ultragenyx Pharmaceutical by 17.4% in the third quarter. Rothschild Asset Management Inc. now owns 5,600 shares of the biopharmaceutical company’s stock worth $397,000 after buying an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

The firm’s market cap is $2.51 billion. The stock’s 50-day moving average price is $72.59 and its 200-day moving average price is $72.33.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, February 16th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by $0.03. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.05 million. Ultragenyx Pharmaceutical’s revenue for the quarter was up 4900.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.42) earnings per share. Analysts predict that Ultragenyx Pharmaceutical Inc will post ($7.07) EPS for the current year.

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Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. Its clinical-stage pipeline consists of two product categories: biologics (including a monoclonal antibody and an enzyme replacement therapy), and small-molecule substrate replacement therapies.

5 Day Chart for NASDAQ:RARE

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