Why Ultragenyx Pharmaceutical Inc. (RARE)’s Stock Is Melting Down -2.45% Today

Today’s big question for investors is, “what’s going on with Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) stock? Its price is nose-diving -1.54 points, trading at $61.36 levels, and is down -2.45% from its previous close of $62.9. The shares seem to have an active trading volume day with a reported 199892 contracts so far this session. RARE shares had a relatively better volume day versus average trading capacity of 559.99 thousand shares, but with a 54.34 million float and a 4.9% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RARE stock indicates that the average analyst price target is $71.68 per share. This means the stock has a potential increase of 16.82% from where the RARE share price has been trading recently.

During the recent trading session for Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), the company witnessed their stock rise $0.89 over a week and surge $0.07 from the price 20 days ago. When compared to their established 52-week high of $74.5, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/04/19. The recent low of $35.41 stood for a -17.64% since 11/18/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.49 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Ultragenyx Pharmaceutical Inc., the two-week RSI stands at 65.81. This figure suggests that RARE stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RARE readings is similarly very revealing as it has a stochastic reading of 90.37% at this stage. This figure means that RARE share price today is being oversold.

Technical chart claims that Ultragenyx Pharmaceutical Inc. (RARE) would settle between $63.46/share to $64.03/share level. However, if the stock price goes below the $62.18 mark, then the market for Ultragenyx Pharmaceutical Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $61.47 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.43. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Wedbush, assumed coverage of RARE assigning Outperform rating, according to their opinion released on August 02. Morgan Stanley analysts bumped their rating on Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) stock from Equal-Weight to Overweight in a separate flash note issued to investors on March 27. Analysts at Raymond James, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to February 22.

RARE equity has an average rating of 1.84, with the figure leaning towards a bullish end. 18 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 14 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 14 analysts rated Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Ultragenyx Pharmaceutical Inc. (RARE)’s current-quarter revenues are projected to climb by nearly 72.7% to hit $31.38 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 76.1% from $103710 to a noteworthy $182610. At the other end of the current quarter income statement, Ultragenyx Pharmaceutical Inc. is expected to see its adjusted earnings surge by roughly 6.6% to hit $-1.7 per share. For the fiscal year, RARE’s earnings are projected to climb by roughly 15.9% to hit $-5.99 per share.