Key Points
- Insider sale: Chief Accounting Officer Theodore Huizenga sold 1,283 Ultragenyx shares for approximately $17,410, reducing his holdings by 1.86%; he still owns 67,863 shares.
- Business performance: Ultragenyx reported quarterly revenue of $214 million, up 28.5% year over year, and a loss of $0.90 per share—better than analysts’ expected $1.22 loss.
- Market and analyst outlook: Shares opened at $13.07, near their 52-week low of $12.88. Analysts maintain a “Moderate Buy” consensus with an average price target of $36.63, although several firms recently cut their targets or ratings.
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) CAO Theodore Huizenga sold 1,283 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $13.57, for a total value of $17,410.31. Following the transaction, the chief accounting officer owned 67,863 shares in the company, valued at approximately $920,900.91. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Theodore Alan Huizenga also recently made the following trade(s):
- On Thursday, September 3rd, Theodore Huizenga sold 161 shares of Ultragenyx Pharmaceutical stock. The shares were sold at an average price of $13.99, for a total value of $2,252.39.
Ultragenyx Pharmaceutical Stock Performance
Shares of Ultragenyx Pharmaceutical stock opened at $13.07 on Wednesday. Ultragenyx Pharmaceutical Inc. has a one year low of $12.88 and a one year high of $39.89. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -2.24 and a beta of 0.31. The business's 50 day moving average price is $25.10 and its 200 day moving average price is $24.63.
Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts' consensus estimates of ($1.22) by $0.32. The company had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The firm's revenue for the quarter was up 28.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.17) earnings per share. On average, analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.98 EPS for the current fiscal year.
Hedge Funds Weigh In On Ultragenyx Pharmaceutical
Hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth about $311,000. IFP Advisors Inc lifted its position in Ultragenyx Pharmaceutical by 191.7% in the second quarter. IFP Advisors Inc now owns 2,313 shares of the biopharmaceutical company's stock valued at $77,000 after buying an additional 1,520 shares during the last quarter. Allworth Financial LP lifted its position in Ultragenyx Pharmaceutical by 130.9% in the second quarter. Allworth Financial LP now owns 4,699 shares of the biopharmaceutical company's stock valued at $157,000 after buying an additional 2,664 shares during the last quarter. Nykredit A S purchased a new position in Ultragenyx Pharmaceutical during the second quarter worth about $154,000. Finally, Corient Private Wealth LP boosted its stake in Ultragenyx Pharmaceutical by 7.3% during the second quarter. Corient Private Wealth LP now owns 146,493 shares of the biopharmaceutical company's stock worth $4,891,000 after buying an additional 9,949 shares during the period. 97.67% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on RARE shares. JPMorgan Chase & Co. lowered shares of Ultragenyx Pharmaceutical from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $80.00 to $36.00 in a report on Thursday, September 3rd. Guggenheim reduced their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Evercore lowered shares of Ultragenyx Pharmaceutical from an "outperform" rating to an "in-line" rating and set a $16.00 target price on the stock. in a report on Thursday, September 3rd. Morgan Stanley increased their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, August 21st. Finally, TD Cowen cut their price target on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.63.
Check Out Our Latest Stock Analysis on RARE
Ultragenyx Pharmaceutical Company Profile
(
Get Free Report)
Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company's work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.
Ultragenyx's marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.
Further Reading
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