The Goldman Sachs Group Issues Pessimistic Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target cut by equities research analysts at The Goldman Sachs Group from $28.00 to $19.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 21.10% from the stock’s previous close.

Several other brokerages have also recently weighed in on RARE. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. TD Cowen reduced their target price on Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. Barclays dropped their price target on Ultragenyx Pharmaceutical from $43.00 to $32.00 and set an “overweight” rating for the company in a report on Friday. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Royal Bank Of Canada cut Ultragenyx Pharmaceutical from a “moderate buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $36.63.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE traded up $0.84 on Friday, reaching $15.69. 7,818,754 shares of the stock traded hands, compared to its average volume of 2,423,563. Ultragenyx Pharmaceutical has a 12 month low of $13.81 and a 12 month high of $39.89. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -2.70 and a beta of 0.31. The stock’s 50-day moving average price is $28.07 and its 200-day moving average price is $25.04.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same period in the prior year, the business posted ($1.17) earnings per share. The business’s revenue was up 28.5% compared to the same quarter last year. As a group, equities research analysts forecast that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Karah Parschauer sold 1,899 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical 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 owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This represents a 8.66% decrease in their position. The SEC filing for this sale provides additional information. 5.20% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at $355,746,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter worth about $6,397,000. Deutsche Bank AG acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $5,503,000. Corient Private Wealth LP acquired a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $4,644,000. Finally, Blue Owl Capital Holdings LP bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $6,098,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical News Summary

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: Several analysts continue to see potential value after the selloff. Barclays maintained an “overweight” rating with a $32 price target, while Jefferies and Citi retained “buy” ratings with $28 targets. Canaccord, Cantor Fitzgerald and HC Wainwright also maintained positive ratings, although all materially reduced their targets. Analyst price target updates
• Positive Sentiment: Unusually heavy call-option activity and speculation from Martin Shkreli that Ultragenyx could become an acquisition target for a rare-disease peer, such as BioMarin, provided potential support for the shares. Ultragenyx potential M&A target
• Neutral Sentiment: Barclays lowered its price target from $43 to $32 but kept an “overweight” rating, indicating substantial expected upside while acknowledging increased risk. Royal Bank of Canada, however, downgraded the stock to “hold.”
• Negative Sentiment: The Aspire failure is the principal negative catalyst: apazunersen did not improve cognitive outcomes or achieve the key multidomain responder measure, raising doubts about the program’s regulatory and commercial prospects. Ultragenyx Angelman syndrome trial failure
• Negative Sentiment: Ultragenyx is considering “significant” cost reductions and may reassess the future of the Angelman syndrome program, highlighting the setback’s impact on its pipeline and operating plans. Ultragenyx cost cuts after failed study
• Negative Sentiment: Wall Street reacted with numerous downgrades and steep target reductions: JPMorgan, Wells Fargo, Baird, Evercore, Bank of America and William Blair moved to neutral or equivalent ratings, while several firms cut targets by more than half.

Ultragenyx Pharmaceutical Company Profile

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.