Ultragenyx Pharmaceutical (NASDAQ: RARE – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report released Saturday to clients and investors.
RARE has been the subject of several other research reports. Cowen lowered his target price on shares of Ultragenyx Pharmaceutical from $86.00 to $65.00 in a Thursday, Nov. 3, report. Citigroup cut its price target on shares of Ultragenyx Pharmaceutical from $146.00 to $142.00 in a Wednesday, August 3, report. Cowen reduced his target price on Ultragenyx Pharmaceutical from $86.00 to $65.00 in a Thursday, Nov. 3 research note. Barclays lowered its price target on Ultragenyx Pharmaceutical from $141.00 to $105.00 in a Friday July 29 research note. Finally, Wedbush reiterated a “neutral” rating on Ultragenyx Pharmaceutical shares in a Thursday, October 13 research note. One equity research analyst has assigned the stock a sell rating, two have issued a hold rating and eight have assigned the company’s stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.86.
Ultragenyx Pharmaceutical Price Performance
NASDAQ:RARE shares opened at $36.55 on Friday. The company’s fifty-day moving average price is $41.01 and its 200-day moving average price is $49.98. Ultragenyx Pharmaceutical has a 12-month low of $33.62 and a 12-month high of $88.22. The company has a market capitalization of $2.56 billion, a P/E ratio of -3.75 and a beta of 1.20.
Insider activity
Separately, CFO Mardi Dier sold 3,484 shares of the company in a trade on Wednesday, October 12. The shares were sold at an average price of $38.22, for a total value of $133,158.48. Following the sale, the CFO now owns 68,324 shares of the company, valued at approximately $2,611,343.28. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. 6.70% of the shares are held by company insiders.
Institutional entries and exits
Several institutional investors and hedge funds have recently increased or reduced their stake in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in Ultragenyx Pharmaceutical by 478.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 188,421 shares of the biopharmaceutical company worth $7,803,000 after purchasing an additional 155,840 shares last quarter. ExodusPoint Capital Management LP acquired a new position in Ultragenyx Pharmaceutical during Q3 worth approximately $1,159,000. Seven Eight Capital LP acquired a new position in Ultragenyx Pharmaceutical during Q3 worth approximately $532,000. Tower Research Capital LLC TRC increased its position in Ultragenyx Pharmaceutical by 32.1% during Q3. Tower Research Capital LLC TRC now owns 7,005 shares of the biopharmaceutical company worth $290,000 after buying 1,703 additional shares last quarter. Finally, Bank of Montreal Can acquired a new position in Ultragenyx Pharmaceutical during Q3 worth approximately $4,788,000. Institutional investors and hedge funds hold 88.27% of the company’s shares.
Ultragenyx Pharmaceutical Company Profile
(Get a rating)
Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, is focused on the identification, acquisition, development and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Europe and internationally . Its biologics include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with mucopolysaccharidosis VII; Dojolvi for the treatment of long chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.
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