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

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target lifted by equities research analysts at Cantor Fitzgerald from $96.00 to $103.00 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 target price would indicate a potential upside of 292.53% from the stock’s previous close.

RARE has been the topic of a number of other reports. Guggenheim dropped their price objective on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Monday, August 10th. Royal Bank Of Canada raised their price objective on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Barclays cut their target price on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, Wedbush reduced their price target on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.24.

Ultragenyx Pharmaceutical Trading Up 2.9%

Shares of Ultragenyx Pharmaceutical stock opened at $26.24 on Thursday. The firm has a fifty day simple moving average of $28.52 and a 200-day simple moving average of $24.96. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -4.49 and a beta of 0.35. Ultragenyx Pharmaceutical has a 1-year low of $18.29 and a 1-year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The business had revenue of $214.00 million for 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%. Ultragenyx Pharmaceutical’s revenue was up 28.5% compared to the same quarter last year. During the same period last year, the business posted ($1.17) EPS. As a group, research analysts predict that Ultragenyx Pharmaceutical will post -4.12 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Howard Horn sold 4,653 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the transaction, the chief financial officer owned 105,689 shares of the company’s stock, valued at $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 8,552 shares of company stock valued at $207,455. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently made changes to their positions in RARE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Ultragenyx Pharmaceutical by 14.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock valued at $8,414,000 after acquiring an additional 29,984 shares in the last quarter. Creative Planning acquired a new position in Ultragenyx Pharmaceutical in the second quarter worth about $454,000. American Century Companies Inc. acquired a new position in Ultragenyx Pharmaceutical in the second quarter worth about $366,000. M&T Bank Corp lifted its stake in Ultragenyx Pharmaceutical by 19.7% during the second quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 1,192 shares during the period. Finally, Amundi lifted its stake in Ultragenyx Pharmaceutical by 1,560.4% during the second quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock worth $3,913,000 after purchasing an additional 93,189 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

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.