Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $33.00 by Analysts at Cantor Fitzgerald

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price cut by equities research analysts at Cantor Fitzgerald from $103.00 to $33.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 24.39% from the company’s current price.

Several other analysts also recently weighed in on RARE. Weiss Ratings raised Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Canaccord Genuity Group upped their target price on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Robert W. Baird lowered Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $40.00 to $16.00 in a research note on Thursday. Wells Fargo & Company cut shares of Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective for the company. in a research report on Thursday. Finally, Morgan Stanley raised their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.53.

Ultragenyx Pharmaceutical Stock Up 2.8%

NASDAQ:RARE opened at $26.53 on Thursday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -4.54 and a beta of 0.31. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $39.89. The stock’s fifty day moving average is $28.36 and its two-hundred day moving average is $25.08.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted 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 business had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.17) earnings per share. On average, sell-side analysts expect that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the transaction, the executive vice president directly owned 94,462 shares of the company’s stock, valued at $2,325,654.44. This represents a 1.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the transaction, the director directly owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth $355,746,000. Vanguard Group Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company’s stock worth $236,068,000 after acquiring an additional 131,087 shares in the last quarter. State Street Corp lifted its holdings in shares of Ultragenyx Pharmaceutical by 16.5% during the 4th quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock valued at $98,970,000 after buying an additional 610,559 shares during the last quarter. California State Teachers Retirement System lifted its stake in Ultragenyx Pharmaceutical by 3,137.6% in the second quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company’s stock valued at $113,129,000 after acquiring an additional 3,283,467 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Ultragenyx Pharmaceutical by 26.6% during the fourth quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company’s stock worth $56,624,000 after buying an additional 516,781 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.