Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $116.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. The Goldman Sachs Group boosted their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a buy rating in a report on Friday, August 2nd. Stifel Nicolaus increased their price objective on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a buy rating in a research report on Friday, May 31st. Wells Fargo & Company lifted their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Bank of America dropped their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a buy rating on the stock in a research note on Friday, May 31st. Finally, Canaccord Genuity Group reissued a buy rating and set a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of Moderate Buy and an average price target of $87.43.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $58.78 on Monday. Ultragenyx Pharmaceutical has a 1 year low of $31.52 and a 1 year high of $60.37. The company has a 50-day moving average of $51.76 and a 200 day moving average of $46.45. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -7.32 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business had revenue of $147.03 million during the quarter, compared to the consensus estimate of $123.20 million. During the same quarter last year, the firm earned ($2.25) earnings per share. The business’s revenue for the quarter was up 35.7% on a year-over-year basis. On average, equities analysts anticipate that Ultragenyx Pharmaceutical will post -6.24 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the transaction, the chief executive officer now directly owns 2,243,985 shares of the company’s stock, valued at approximately $112,580,727.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 40,675 shares of company stock valued at $2,149,446. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of RARE. Vanguard Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after buying an additional 26,575 shares in the last quarter. RTW Investments LP increased its holdings in Ultragenyx Pharmaceutical by 27.4% in the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock valued at $329,340,000 after acquiring an additional 1,481,997 shares during the last quarter. Sands Capital Management LLC increased its holdings in Ultragenyx Pharmaceutical by 59.8% in the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock valued at $196,923,000 after acquiring an additional 1,540,791 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ultragenyx Pharmaceutical by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after purchasing an additional 120,175 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after purchasing an additional 17,362 shares during the last quarter. 97.67% of the stock is owned by 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.