Cantor Fitzgerald Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $96.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective raised by research analysts at Cantor Fitzgerald from $84.00 to $96.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 312.42% from the stock’s previous close.

RARE has been the topic of several other reports. Canaccord Genuity Group lowered their target price on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Wall Street Zen downgraded Ultragenyx Pharmaceutical from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Wedbush decreased their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. The Goldman Sachs Group cut Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $61.00 to $25.00 in a research note on Tuesday, March 24th. Finally, Barclays dropped their price objective on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $59.88.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock traded down $0.09 on Thursday, reaching $23.28. 173,701 shares of the company traded hands, compared to its average volume of 2,165,542. The company has a 50 day moving average of $23.18 and a 200 day moving average of $26.22. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $42.37. The firm has a market capitalization of $2.29 billion, a PE ratio of -3.81 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The company had revenue of $136.00 million during the quarter, compared to the consensus estimate of $158.19 million. During the same period last year, the firm posted ($1.57) EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts anticipate that Ultragenyx Pharmaceutical will post -4.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 54,404 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $1,240,411.20. Following the sale, the chief executive officer directly owned 658,994 shares in the company, valued at $15,025,063.20. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Howard Horn sold 8,409 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $22.70, for a total transaction of $190,884.30. Following the completion of the sale, the chief financial officer directly owned 86,669 shares in the company, valued at approximately $1,967,386.30. The trade was a 8.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 117,262 shares of company stock worth $2,687,403 over the last quarter. Insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of Ultragenyx Pharmaceutical by 1,030.4% in the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock worth $47,298,000 after buying an additional 2,057,951 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Ultragenyx Pharmaceutical by 614.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after buying an additional 1,864,164 shares in the last quarter. Norges Bank bought a new position in Ultragenyx Pharmaceutical in the 4th quarter worth about $29,004,000. Eagle Health Investments LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at about $18,522,000. Finally, Millennium Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 787.6% in the 4th quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock valued at $20,255,000 after acquiring an additional 781,431 shares in the last quarter. Institutional investors 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.