Canaccord Genuity Group Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $37.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target trimmed by Canaccord Genuity Group from $83.00 to $37.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other analysts also recently weighed in on the stock. William Blair downgraded shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Thursday. Robert W. Baird cut Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $40.00 to $16.00 in a research note on Thursday. Citigroup raised their price target on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. cut Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $80.00 to $36.00 in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.63.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $15.30 on Thursday. Ultragenyx Pharmaceutical has a 1-year low of $13.81 and a 1-year high of $39.89. The stock has a market cap of $1.51 billion, a PE ratio of -2.62 and a beta of 0.31. The firm has a 50-day simple moving average of $27.76 and a two-hundred day simple moving average of $24.97.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly 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. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same period in the previous year, the firm earned ($1.17) EPS. The business’s revenue was up 28.5% on a year-over-year basis. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical will post -3.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Karah Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Corsee 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 transaction of $50,100.00. Following the sale, the director directly owned 21,095 shares in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of RARE. Corient Private Wealth LP raised its stake in shares of Ultragenyx Pharmaceutical by 7.3% in the second quarter. Corient Private Wealth LP now owns 146,493 shares of the biopharmaceutical company’s stock valued at $4,891,000 after acquiring an additional 9,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth $1,036,000. California State Teachers Retirement System grew 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 worth $113,129,000 after purchasing an additional 3,283,467 shares in the last quarter. denkapparat Operations GmbH purchased a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $230,000. Finally, Nykredit A S purchased a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $154,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting 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

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.