Ultragenyx Pharmaceutical (RARE) Price Target Cut to $54.00 by Analysts at SunTrust Banks

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Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target cut by SunTrust Banks from $83.00 to $54.00 in a research note released on Monday morning, The Fly reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the company. Canaccord Genuity boosted their price target on Ultragenyx Pharmaceutical from $80.00 to $90.00 and gave the company a buy rating in a report on Friday, August 3rd. Robert W. Baird restated a buy rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, August 3rd. BidaskClub lowered Ultragenyx Pharmaceutical from a strong-buy rating to a buy rating in a report on Wednesday, July 25th. JPMorgan Chase & Co. reiterated a buy rating on shares of Ultragenyx Pharmaceutical in a report on Wednesday, August 29th. Finally, JMP Securities reiterated a buy rating and set a $94.00 target price on shares of Ultragenyx Pharmaceutical in a report on Sunday, September 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. Ultragenyx Pharmaceutical currently has a consensus rating of Buy and a consensus target price of $77.00.

Shares of Ultragenyx Pharmaceutical stock opened at $47.55 on Monday. The stock has a market capitalization of $2.44 billion, a PE ratio of -6.34 and a beta of 1.95. Ultragenyx Pharmaceutical has a one year low of $41.67 and a one year high of $90.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating analysts’ consensus estimates of ($2.08) by $1.02. The company had revenue of $12.79 million for the quarter, compared to analyst estimates of $5.63 million. Ultragenyx Pharmaceutical had a negative return on equity of 44.09% and a negative net margin of 703.27%. During the same period in the previous year, the company posted ($1.72) earnings per share. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -4.38 EPS for the current year.

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $78.53, for a total value of $392,650.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William Aliski sold 19,550 shares of the company’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $72.49, for a total value of $1,417,179.50. Following the completion of the sale, the director now owns 72,610 shares in the company, valued at approximately $5,263,498.90. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock worth $2,700,774 in the last quarter. 8.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Ultragenyx Pharmaceutical by 3.8% in the second quarter. BlackRock Inc. now owns 4,389,350 shares of the biopharmaceutical company’s stock valued at $337,408,000 after buying an additional 158,723 shares during the period. Federated Investors Inc. PA raised its stake in Ultragenyx Pharmaceutical by 18.2% in the second quarter. Federated Investors Inc. PA now owns 1,417,551 shares of the biopharmaceutical company’s stock valued at $108,967,000 after buying an additional 218,060 shares during the period. First Trust Advisors LP raised its stake in Ultragenyx Pharmaceutical by 29.3% in the third quarter. First Trust Advisors LP now owns 1,263,466 shares of the biopharmaceutical company’s stock valued at $96,453,000 after buying an additional 285,961 shares during the period. Northern Trust Corp raised its stake in Ultragenyx Pharmaceutical by 6.7% in the second quarter. Northern Trust Corp now owns 554,092 shares of the biopharmaceutical company’s stock valued at $42,594,000 after buying an additional 34,942 shares during the period. Finally, Voya Investment Management LLC raised its stake in Ultragenyx Pharmaceutical by 2,221.4% in the second quarter. Voya Investment Management LLC now owns 426,788 shares of the biopharmaceutical company’s stock valued at $32,807,000 after buying an additional 408,403 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.

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