Ultragenyx Pharmaceutical (NASDAQ:RARE) Trading Down 5.8% on Analyst Downgrade

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Ultragenyx Pharmaceutical Inc. (NASDAQ:RAREGet Rating) was down 5.8% on Monday after Evercore ISI downgraded the stock from an outperform rating to an in-line rating. Evercore ISI now has a $60.00 price target on the stock, down from their previous price target of $95.00. Ultragenyx Pharmaceutical traded as low as $50.05 and last traded at $50.19. Approximately 1,361 shares were traded during trading, a decline of 100% from the average daily volume of 540,358 shares. The stock had previously closed at $53.28.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group cut their target price on Ultragenyx Pharmaceutical from $139.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, May 24th. Piper Sandler reaffirmed a “maintains” rating on shares of Ultragenyx Pharmaceutical in a research report on Friday. Cowen lowered their price target on Ultragenyx Pharmaceutical from $124.00 to $99.00 in a research report on Friday, May 6th. Barclays lowered their price target on Ultragenyx Pharmaceutical from $141.00 to $105.00 in a research report on Friday. Finally, Stifel Nicolaus lowered their price target on Ultragenyx Pharmaceutical from $176.00 to $142.00 and set a “buy” rating on the stock in a research report on Friday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $104.69.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the company. IndexIQ Advisors LLC acquired a new stake in Ultragenyx Pharmaceutical during the first quarter worth about $44,000. Lazard Asset Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 36.6% during the first quarter. Lazard Asset Management LLC now owns 896 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 240 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $113,000. Harbor Capital Advisors Inc. acquired a new stake in Ultragenyx Pharmaceutical during the first quarter valued at approximately $169,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $207,000. 97.49% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Stock Down 5.0 %

The business has a fifty day simple moving average of $55.06 and a two-hundred day simple moving average of $63.75. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -6.92 and a beta of 1.22.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported ($2.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.54). The company had revenue of $89.34 million for the quarter, compared to analyst estimates of $87.33 million. Ultragenyx Pharmaceutical had a negative net margin of 151.34% and a negative return on equity of 57.22%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.45) earnings per share. As a group, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -7.23 earnings per share for the current fiscal year.

Ultragenyx Pharmaceutical Company Profile

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Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses 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 biologic products 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 treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.

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