Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $37.00 Price Target at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective cut by research analysts at Canaccord Genuity Group from $83.00 to $37.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 39.46% from the company’s current price.

Several other brokerages have also issued reports on RARE. Robert W. Baird lowered Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $40.00 to $16.00 in a research report on Thursday. JPMorgan Chase & Co. lowered Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Thursday. Royal Bank Of Canada boosted their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Evercore cut shares of Ultragenyx Pharmaceutical from an “outperform” rating to an “inline” rating and set a $16.00 price target for the company. in a research report on Thursday. Finally, Wells Fargo & Company lowered shares of Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective on the stock. in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $43.95.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $26.53 on Thursday. Ultragenyx Pharmaceutical has a 52-week low of $18.29 and a 52-week high of $39.89. The company has a fifty day moving average of $28.36 and a 200-day moving average of $25.08. The company has a market capitalization of $2.62 billion, a P/E ratio of -4.54 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The business had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same period in the previous year, the firm earned ($1.17) EPS. The business’s quarterly revenue was up 28.5% on a year-over-year basis. As a group, analysts forecast that Ultragenyx Pharmaceutical will post -3.97 EPS for the current fiscal year.

Insider Activity

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This represents a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction 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 sale, the executive vice president directly owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors have recently made changes to their positions in RARE. Corient Private Wealth LP raised its holdings in shares of Ultragenyx Pharmaceutical by 7.3% during the second quarter. Corient Private Wealth LP now owns 146,493 shares of the biopharmaceutical company’s stock valued at $4,891,000 after purchasing an additional 9,949 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $1,036,000. California State Teachers Retirement System raised its stake in Ultragenyx Pharmaceutical by 3,137.6% during the 2nd quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company’s stock valued at $113,129,000 after buying an additional 3,283,467 shares during the last quarter. denkapparat Operations GmbH bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $230,000. Finally, Nykredit A S bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $154,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

More Ultragenyx Pharmaceutical News

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: Ultragenyx reported encouraging 96-week data for GENGLYCOS™ (DTX401) in glycogen storage disease type Ia. Patients achieved an average 61% reduction in daily cornstarch intake while maintaining glycemic control, supporting the commercial and clinical potential of this program. GENGLYCOS trial publication
• Neutral Sentiment: Ultragenyx’s existing commercial business remains a focus for investors as the company evaluates cost reductions and seeks to offset the impact of the failed Angelman program. Analysts continue to recognize longer-term potential in its rare-disease portfolio, although near-term sentiment has deteriorated. Barron’s analysis of Ultragenyx
• Negative Sentiment: The Phase 3 Aspire study of the company’s Angelman syndrome treatment did not achieve its primary endpoint, the change in Bayley-4 cognitive raw score, or its key secondary MDRI endpoint. The failure removes a major anticipated growth driver and raises questions about the value of the program. Ultragenyx Aspire Phase 3 results
• Negative Sentiment: Wells Fargo downgraded Ultragenyx from “overweight” to “equal weight” and set an $18 price target, implying substantial downside from the referenced price. Analyst coverage
• Negative Sentiment: JPMorgan downgraded the stock to “neutral,” while Robert W. Baird and Evercore moved their ratings to “neutral” or “in-line.” Baird cut its target to $16 from $40, and Evercore also set a $16 target, reinforcing the view that the trial failure materially reduced Ultragenyx’s valuation.

About Ultragenyx Pharmaceutical

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.