Cantor Fitzgerald Forecasts Strong Price Appreciation for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lifted by Cantor Fitzgerald from $96.00 to $103.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 292.53% from the stock’s previous close.

RARE has been the topic of several other reports. Wells Fargo & Company lowered their price objective on shares of Ultragenyx Pharmaceutical from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Wedbush lowered their price target on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Monday, August 10th. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.24.

Ultragenyx Pharmaceutical Trading Up 2.9%

RARE stock opened at $26.24 on Thursday. Ultragenyx Pharmaceutical has a one year low of $18.29 and a one year high of $39.89. The firm has a market capitalization of $2.59 billion, a PE ratio of -4.49 and a beta of 0.35. The firm has a 50-day moving average of $28.52 and a two-hundred day moving average of $24.96.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same period last year, the firm posted ($1.17) earnings per share. The firm’s quarterly revenue was up 28.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical will post -4.12 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares in the company, valued at $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 8,552 shares of company stock valued at $207,455. Insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in shares of Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 1,440 shares during the last quarter. Leonteq Securities AG boosted its holdings in Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,333 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Ultragenyx Pharmaceutical by 662.9% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares in the last quarter. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth $39,000. Finally, EverSource Wealth Advisors LLC increased its position in Ultragenyx Pharmaceutical by 573.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 1,845 shares during the last quarter. 97.67% of the stock is currently 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.