Ultragenyx Pharmaceutical’s (RARE) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note published on Tuesday, Benzinga reports. They currently have a $116.00 price target on the biopharmaceutical company’s stock.

RARE has been the subject of several other reports. The Goldman Sachs Group upped their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays dropped their target price on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Canaccord Genuity Group restated a “buy” rating and set a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. TD Cowen boosted their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wedbush raised their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.29.

Ultragenyx Pharmaceutical Stock Up 0.2 %

Shares of RARE stock opened at $54.82 on Tuesday. The business has a 50-day moving average price of $56.03 and a two-hundred day moving average price of $47.76. Ultragenyx Pharmaceutical has a 12-month low of $31.62 and a 12-month high of $60.37. The firm has a market cap of $4.56 billion, a P/E ratio of -6.83 and a beta of 0.57.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. The company had revenue of $147.03 million during the quarter, compared to the consensus estimate of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. Ultragenyx Pharmaceutical’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.25) EPS. As a group, research analysts expect that Ultragenyx Pharmaceutical will post -6.28 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,556 shares of company stock valued at $2,519,367 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after acquiring an additional 26,575 shares during the period. Price T Rowe Associates Inc. MD grew its position in Ultragenyx Pharmaceutical by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after purchasing an additional 120,175 shares during the period. Clearbridge Investments LLC raised its stake in Ultragenyx Pharmaceutical by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after buying an additional 17,362 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Ultragenyx Pharmaceutical by 8.7% in the 2nd quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after buying an additional 168,345 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after buying an additional 942,529 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

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.