Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Free Report) traded down 6.9% during trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $37.89 and last traded at $38.46. 778,847 shares changed hands during mid-day trading, an increase of 29% from the average session volume of 604,694 shares. The stock had previously closed at $41.30.
The biopharmaceutical company reported ($2.25) EPS for the quarter, missing analysts’ consensus estimates of ($2.11) by ($0.14). Ultragenyx Pharmaceutical had a negative net margin of 187.31% and a negative return on equity of 149.75%. The company had revenue of $108.30 million during the quarter, compared to analyst estimates of $107.10 million. During the same quarter in the previous year, the firm earned ($2.26) earnings per share. The business’s revenue was up 21.3% on a year-over-year basis.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Wedbush decreased their target price on Ultragenyx Pharmaceutical from $49.00 to $47.00 in a research note on Friday. Evercore ISI upgraded Ultragenyx Pharmaceutical from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $80.00 in a research report on Tuesday, June 6th. Cantor Fitzgerald started coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, April 26th. They set an “overweight” rating and a $114.00 price objective for the company. Citigroup boosted their price objective on Ultragenyx Pharmaceutical from $130.00 to $133.00 in a research report on Wednesday, June 7th. Finally, HC Wainwright reissued a “buy” rating and set a $82.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.21.
Insider Buying and Selling at Ultragenyx Pharmaceutical
In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 585 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $46.76, for a total value of $27,354.60. Following the transaction, the director now owns 8,985 shares of the company’s stock, valued at $420,138.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Corazon (Corsee) D. Sanders sold 1,485 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $51.65, for a total value of $76,700.25. Following the completion of the sale, the director now owns 9,570 shares in the company, valued at $494,290.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 585 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $46.76, for a total value of $27,354.60. Following the completion of the sale, the director now owns 8,985 shares of the company’s stock, valued at approximately $420,138.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,387 shares of company stock valued at $219,356. Corporate insiders own 6.80% of the company’s stock.
Institutional Trading of Ultragenyx Pharmaceutical
Hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Ultragenyx Pharmaceutical by 33.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 951 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 239 shares during the last quarter. Privium Fund Management B.V. increased its stake in shares of Ultragenyx Pharmaceutical by 29.6% in the fourth quarter. Privium Fund Management B.V. now owns 106,741 shares of the biopharmaceutical company’s stock worth $4,821,000 after acquiring an additional 24,400 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Ultragenyx Pharmaceutical by 39.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,349 shares of the biopharmaceutical company’s stock worth $335,000 after acquiring an additional 2,061 shares during the last quarter. DNB Asset Management AS acquired a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $546,000. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Ultragenyx Pharmaceutical by 53.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 388,528 shares of the biopharmaceutical company’s stock worth $15,580,000 after acquiring an additional 135,676 shares during the last quarter. Hedge funds and other institutional investors own 96.56% of the company’s stock.
Ultragenyx Pharmaceutical Stock Down 7.6 %
The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -3.71 and a beta of 0.86. The stock’s 50 day moving average price is $46.90 and its two-hundred day moving average price is $44.55.
Ultragenyx Pharmaceutical Company Profile
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, Latin America, Japan, 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.