Ultragenyx Pharmaceutical’s (RARE) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a report issued on Wednesday,Benzinga reports. They presently have a $118.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 181.15% from the company’s previous close.

A number of other brokerages have also recently weighed in on RARE. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Piper Sandler lifted their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wedbush reiterated a “neutral” rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Finally, Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. One research analyst has 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 has an average rating of “Moderate Buy” and an average target price of $93.50.

Ultragenyx Pharmaceutical Stock Up 0.8 %

RARE stock opened at $41.97 on Wednesday. Ultragenyx Pharmaceutical has a 52-week low of $37.02 and a 52-week high of $60.37. The stock’s fifty day simple moving average is $42.96 and its 200-day simple moving average is $49.24. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -6.62 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The business had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. As a group, analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 259.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 493 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $35,000. Human Investing LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $42,000. True Wealth Design LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth about $43,000. Finally, Van ECK Associates Corp increased its position in shares of Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 273 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.