Cantor Fitzgerald Reiterates Overweight Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a research note issued to investors on Friday, Benzinga reports. They presently have a $107.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 150.29% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. TD Cowen boosted their price target on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Canaccord Genuity Group increased their target price on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Robert W. Baird lifted their price target on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Royal Bank of Canada assumed coverage on Ultragenyx Pharmaceutical in a research report on Monday, April 22nd. They issued an “outperform” rating and a $77.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.00.

Ultragenyx Pharmaceutical Trading Down 1.0 %

Shares of RARE stock opened at $42.75 on Friday. The business’s 50 day moving average is $47.25 and its two-hundred day moving average is $44.14. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $54.98.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). The firm had revenue of $108.83 million during the quarter, compared to analysts’ expectations of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned ($2.33) earnings per share. On average, research analysts predict that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of the transaction, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew K. Fust sold 12,195 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now directly owns 14,860 shares in the company, valued at approximately $756,076.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,116 shares of company stock worth $1,645,983. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of RARE. Charles Schwab Investment Management Inc. boosted its position in Ultragenyx Pharmaceutical by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 396,725 shares of the biopharmaceutical company’s stock worth $14,143,000 after acquiring an additional 19,487 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Ultragenyx Pharmaceutical by 42.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock worth $2,745,000 after purchasing an additional 17,000 shares during the last quarter. CHI Advisors LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 152.9% during the third quarter. CHI Advisors LLC now owns 215,000 shares of the biopharmaceutical company’s stock worth $7,665,000 after purchasing an additional 130,000 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Ultragenyx Pharmaceutical by 3.1% in the third quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock valued at $257,862,000 after purchasing an additional 214,666 shares during the period. Finally, Deutsche Bank AG increased its stake in Ultragenyx Pharmaceutical by 6.8% in the third quarter. Deutsche Bank AG now owns 947,732 shares of the biopharmaceutical company’s stock valued at $33,787,000 after purchasing an additional 60,001 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

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.