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

Cantor Fitzgerald reiterated their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report published on Friday morning, Benzinga reports. Cantor Fitzgerald currently has a $107.00 price objective on the biopharmaceutical company’s stock.

RARE has been the topic of several other research reports. Robert W. Baird raised their target price on shares of Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an outperform rating in a report on Tuesday, January 30th. Canaccord Genuity Group raised their target price on shares of Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the stock a buy rating in a report on Wednesday, February 21st. Royal Bank of Canada began coverage on shares of Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They issued an outperform rating and a $77.00 target price on the stock. TD Cowen raised their target price on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Finally, Wedbush cut their target price on shares of Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a neutral rating on the stock in a report on Friday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of Moderate Buy and a consensus target price of $88.00.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded down $0.45 on Friday, reaching $42.75. 1,143,019 shares of the company’s stock traded hands, compared to its average volume of 786,481. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $54.98. The stock has a 50-day simple moving average of $47.25 and a 200 day simple moving average of $44.08. The stock has a market cap of $3.55 billion, a PE ratio of -5.32 and a beta of 0.68.

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

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Matthew K. Fust sold 12,195 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the transaction, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Ultragenyx Pharmaceutical news, Director Matthew K. Fust sold 12,195 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the transaction, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter worth about $493,000. Capstone Investment Advisors LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter worth about $227,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ultragenyx Pharmaceutical by 113.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 230,767 shares of the biopharmaceutical company’s stock worth $10,775,000 after purchasing an additional 122,412 shares during the last quarter. Privium Fund Management B.V. raised its position in shares of Ultragenyx Pharmaceutical by 29.2% in the 1st quarter. Privium Fund Management B.V. now owns 215,102 shares of the biopharmaceutical company’s stock worth $10,043,000 after purchasing an additional 48,596 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Ultragenyx Pharmaceutical by 67.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 1,339 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

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.