Ultragenyx Pharmaceutical’s (RARE) Overweight Rating Reiterated at Cantor Fitzgerald

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They presently have a $116.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 108.82% from the company’s current price.

RARE has been the subject of a number of other reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, July 23rd. Wells Fargo & Company raised their price target on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays cut their price objective 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. Finally, Wedbush raised their price objective on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research note 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, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $55.55 on Tuesday. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $60.37. The business has a 50-day moving average of $53.28 and a 200-day moving average of $46.67. The company has a market capitalization of $4.62 billion, a PE ratio of -6.92 and a beta of 0.56.

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

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 40,091 shares of company stock valued at $2,125,513 in the last 90 days. 5.80% of the stock is currently owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at approximately $28,000. nVerses Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $33,000. UMB Bank n.a. grew its holdings in shares of Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 622.3% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 67.7% during 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 in the last quarter. Institutional investors and hedge funds 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.