Ultragenyx Pharmaceutical (NASDAQ:RARE) Hits New 12-Month Low After Missing Profits

Ultragenyx Pharmaceutical Inc. Stock (NASDAQ: RARE – Get a rating) hit a fresh 52-week intraday low on Friday after a weaker-than-expected earnings announcement. The company traded as low as $61.16 and last traded at $61.56, with volume traded at 949 shares. The stock previously closed at $66.43. The biopharmaceutical company reported ($2.19) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($1.78) by ($0.41). The company posted revenue of $79.94 million for the quarter, versus a consensus estimate of $84.25 million. Ultragenyx Pharmaceutical posted a negative return on equity of 44.24% and a negative net margin of 129.20%. Ultragenyx Pharmaceutical’s quarterly revenue decreased 19.6% year-over-year. In the same quarter a year earlier, the company posted ($2.03) earnings per share.

RARE has been the subject of several research analyst reports. Cowen cut his price target on shares of Ultragenyx Pharmaceutical from $124.00 to $99.00 in a research note on Friday. Morgan Stanley lowered its price target on shares of Ultragenyx Pharmaceutical from $120.00 to $118.00 and set an “overweight” rating on the stock in a Friday, February 11 report. Credit Suisse Group upgraded shares of Ultragenyx Pharmaceutical from a “neutral” rating to an “outperforming” rating and raised its price target for the company from $99.00 to $105.00 in a Wednesday report March 16. StockNews.com downgraded shares of Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a report on Tuesday, April 26. To finish, Zacks Investment Research upgraded shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating and set a price target of $75.00 on the stock in a Tuesday, February 15 report. Two investment analysts gave the stock a sell rating, three gave the company a hold rating and nine gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus buy rating and a consensus target price of $119.05.

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In other Ultranyx Pharmaceutical news, Executive Vice President Thomas Richard Kassberg sold 10,281 shares of the company in a trade dated Friday, March 11. The shares were sold at an average price of $67.01, for a total value of $688,929.81. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, VPE Erik Harris sold 2,713 shares of the company in a transaction dated Tuesday, March 1. The stock was sold at an average price of $66.62, for a total transaction of $180,740.06. Disclosure of this sale can be found here. Insiders sold a total of 22,764 shares of the company valued at $1,504,050 in the past ninety days. 6.70% of the shares are currently held by insiders.

Several institutional investors have recently increased or reduced their stake in RARE. Morgan Stanley increased its position in shares of Ultragenyx Pharmaceutical by 64.5% during the second quarter. Morgan Stanley now owns 390,098 shares of the biopharmaceutical company valued at $37,197,000 after acquiring an additional 152,916 shares during the period. Victory Capital Management Inc. increased its position in shares of Ultragenyx Pharmaceutical by 7.3% during the third quarter. Victory Capital Management Inc. now owns 6,615 shares of the biopharmaceutical company valued at $597,000 after acquiring 448 additional shares during the period. Raymond James & Associates increased its position in shares of Ultragenyx Pharmaceutical by 4.2% during the third quarter. Raymond James & Associates now owns 9,838 shares of the biopharmaceutical company valued at $887,000 after acquiring 397 additional shares during the period. The North Carolina State Treasurer increased its position in shares of Ultragenyx Pharmaceutical by 3.5% during the third quarter. The North Carolina State Treasurer now owns 23,209 shares of the biopharmaceutical company valued at $2,093,000 after acquiring an additional 779 shares during the period. Finally, Advisor Group Holdings Inc. increased its position in shares of Ultragenyx Pharmaceutical by 26.6% during the third quarter. Advisor Group Holdings Inc. now owns 1,612 shares of the biopharmaceutical company valued at $146,000 after acquiring 339 additional shares during the period. 97.49% of the shares are held by hedge funds and other institutional investors.

The stock’s 50-day moving average price is $72.32 and its two-hundred-day moving average price is $75.11. The stock has a market capitalization of $4.23 billion, a P/E ratio of -9.90 and a beta of 1.58.

About Ultranyx Pharmaceutical (NASDAQ: RARE)

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, is focused 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 biologics 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 the treatment of long chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.

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