Citigroup Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $28.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective cut by Citigroup from $58.00 to $28.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

RARE has been the subject of several other reports. HC Wainwright cut their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. downgraded Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $36.00 in a research report on Thursday. Evercore lowered Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price target for the company. in a report on Thursday. Bank of America cut Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating in a research report on Thursday. Finally, Wedbush decreased their price objective on Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.63.

Ultragenyx Pharmaceutical Stock Up 3.0%

Shares of NASDAQ:RARE opened at $15.30 on Thursday. The firm has a market capitalization of $1.51 billion, a PE ratio of -2.62 and a beta of 0.31. Ultragenyx Pharmaceutical has a twelve month low of $13.81 and a twelve month high of $39.89. The company has a 50-day moving average price of $27.76 and a two-hundred day moving average price of $24.97.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted 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 firm had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. During the same quarter last year, the company earned ($1.17) earnings per share. The company’s revenue was up 28.5% on a year-over-year basis. Analysts anticipate that Ultragenyx Pharmaceutical will post -3.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, EVP Karah Parschauer sold 1,899 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were 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 trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the transaction, the director owned 21,095 shares of the company’s stock, valued at $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently added to or reduced their stakes in RARE. CANADA LIFE ASSURANCE Co grew its position in Ultragenyx Pharmaceutical by 2.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 26,932 shares of the biopharmaceutical company’s stock worth $817,000 after buying an additional 534 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Ultragenyx Pharmaceutical by 26.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock valued at $80,000 after acquiring an additional 549 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 4.7% in the 2nd quarter. Tidal Investments LLC now owns 12,591 shares of the biopharmaceutical company’s stock valued at $458,000 after acquiring an additional 564 shares in the last quarter. Rafferty Asset Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 0.4% during the 4th quarter. Rafferty Asset Management LLC now owns 157,061 shares of the biopharmaceutical company’s stock valued at $3,612,000 after acquiring an additional 577 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 43.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock valued at $57,000 after acquiring an additional 751 shares during the last quarter. Institutional investors own 97.67% of the company’s stock.

Trending Headlines about Ultragenyx Pharmaceutical

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

• Positive Sentiment: Several analysts still see substantial potential upside after the selloff. Barclays maintained an “overweight” rating with a $32 price target, while Jefferies, Citigroup, TD Cowen, Canaccord Genuity, Cantor Fitzgerald and HC Wainwright retained bullish ratings despite sharply reducing their targets.
• Positive Sentiment: Ultragenyx is evaluating “significant” cost reductions following the trial failure, which could help preserve cash and improve the company’s financial outlook. Investors are also focusing on its existing commercial rare-disease portfolio. Ultragenyx to weigh significant cost cuts as Angelman drug fails key study
• Positive Sentiment: Unusually heavy call-option activity and speculation that Ultragenyx could become an acquisition target provide potential—but highly speculative—support for the stock. Ultragenyx potential M&A target
• Neutral Sentiment: Analyst views are increasingly divided. Goldman Sachs lowered its target to $19 and moved to “neutral,” while Barclays remains “overweight” at $32. Jefferies and Citi kept “buy” ratings but reduced targets to $28. The wide range reflects uncertainty over Ultragenyx’s post-trial growth prospects.
• Negative Sentiment: RBC downgraded the company to “hold,” while Bank of America, JPMorgan, Wells Fargo, Baird, Evercore, William Blair and others also reduced ratings or targets. Baird and Evercore now see only limited upside, signaling diminished confidence in the pipeline.
• Negative Sentiment: The Angelman syndrome failure creates greater dependence on Ultragenyx’s existing products and other pipeline programs. The company is weighing the future of the program, adding uncertainty around research spending, revenue growth and long-term valuation. Ultragenyx Angelman syndrome trial failure

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.