Key Points
- CFO Howard Horn sold 7,066 Ultragenyx shares at an average price of $15.27, generating $107,897.82. The sale reduced his direct holdings by 7.34% and was made to cover tax withholding on vested equity awards.
- Ultragenyx reported stronger-than-expected quarterly results, with revenue of $214 million, up 28.5% year over year, and an EPS loss of $0.90 versus the expected $1.22 loss.
- Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $33.65; shares recently traded near $15, well below their 12-month high of $39.89.
Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Get Free Report) CFO Howard Horn sold 7,066 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $15.27, for a total transaction of $107,897.82. Following the sale, the chief financial officer directly owned 89,229 shares of the company's stock, valued at $1,362,526.83. The trade was a 7.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ultragenyx Pharmaceutical Price Performance
Shares of Ultragenyx Pharmaceutical stock opened at $15.07 on Tuesday. The company's fifty day simple moving average is $18.59 and its two-hundred day simple moving average is $23.54. Ultragenyx Pharmaceutical Inc. has a 12-month low of $12.73 and a 12-month high of $39.89.
Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. The business's revenue was up 28.5% on a year-over-year basis. During the same period last year, the company posted ($1.17) earnings per share. As a group, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -3.97 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Wells Fargo & Company downgraded Ultragenyx Pharmaceutical from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $50.00 to $18.00 in a report on Thursday, September 3rd. Bank of America lowered Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating in a research report on Thursday, September 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, October 6th. Citigroup lifted their price objective on Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Finally, William Blair upgraded Ultragenyx Pharmaceutical to a "hold" rating in a research report on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $33.65.
Get Our Latest Stock Report on Ultragenyx Pharmaceutical
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $355,746,000. Assenagon Asset Management S.A. raised its stake in Ultragenyx Pharmaceutical by 1,030.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock worth $47,298,000 after buying an additional 2,057,951 shares in the last quarter. Bank of America Corp DE purchased a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $38,347,000. Jefferies Financial Group Inc. purchased a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $31,040,000. Finally, Eagle Health Investments LP purchased a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $29,521,000. 97.67% of the stock is currently owned by institutional investors.
About Ultragenyx Pharmaceutical
(
Get Free Report)
Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic diseases. The company targets conditions with limited or no treatment options, including metabolic disorders, skeletal diseases and other inherited conditions. Its work includes the development of medicines, biologic therapies and gene therapy candidates intended to address the underlying causes or significant symptoms of these disorders.
Ultragenyx's commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Dojolvi (triheptanoin), a medical food used to manage long-chain fatty acid oxidation disorders; and Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII.
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