Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Rating Reaffirmed by Cantor Fitzgerald

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They currently have a $116.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 98.32% from the stock’s previous close.

A number of other analysts have also commented on the company. Barclays cut their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus boosted their target price on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Bank of America decreased their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $111.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group increased their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.43.

Ultragenyx Pharmaceutical Trading Down 1.5 %

Shares of Ultragenyx Pharmaceutical stock opened at $58.49 on Monday. The firm’s 50 day moving average is $51.16 and its 200 day moving average is $46.29. The firm has a market capitalization of $4.86 billion, a PE ratio of -7.28 and a beta of 0.56. Ultragenyx Pharmaceutical has a 1 year low of $31.52 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $147.03 million during the quarter, compared to the consensus estimate of $123.20 million. During the same period in the prior year, the business earned ($2.25) earnings per share. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, research analysts anticipate that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 40,675 shares of company stock worth $2,149,446. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sands Capital Management LLC raised its holdings in Ultragenyx Pharmaceutical by 59.8% during the fourth quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock worth $196,923,000 after buying an additional 1,540,791 shares during the last quarter. RTW Investments LP lifted its position 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 in the last quarter. Vanguard Group Inc. boosted its stake in Ultragenyx Pharmaceutical by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after purchasing an additional 1,440,264 shares during the last quarter. Millennium Management LLC increased its holdings in Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after purchasing an additional 942,529 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Ultragenyx Pharmaceutical in the fourth quarter worth approximately $36,846,000. 97.67% of the stock is owned by institutional investors and hedge funds.

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.