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

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a report released on Tuesday, Benzinga reports. They currently have a $116.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 108.82% from the stock’s current price.

Several other analysts also recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Thursday, September 26th. The Goldman Sachs Group upped their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Finally, Barclays dropped their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Trading Down 1.7 %

Shares of NASDAQ RARE opened at $55.55 on Tuesday. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $60.37. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of -6.92 and a beta of 0.56. The firm has a 50-day moving average of $53.73 and a two-hundred day moving average of $46.80.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly 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 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 company earned ($2.25) EPS. Ultragenyx Pharmaceutical’s revenue was up 35.7% on a year-over-year basis. As a group, research analysts predict that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 40,091 shares of company stock valued at $2,125,513 over the last ninety days. 5.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently modified their holdings of the stock. TD Asset Management Inc grew its position in shares of Ultragenyx Pharmaceutical by 7.8% in the 4th quarter. TD Asset Management Inc now owns 221,360 shares of the biopharmaceutical company’s stock valued at $10,585,000 after purchasing an additional 16,000 shares during the period. Treasurer of the State of North Carolina lifted its stake in Ultragenyx Pharmaceutical by 17.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 34,853 shares of the biopharmaceutical company’s stock valued at $1,667,000 after acquiring an additional 5,150 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Ultragenyx Pharmaceutical by 13.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 272,339 shares of the biopharmaceutical company’s stock valued at $13,023,000 after acquiring an additional 31,482 shares in the last quarter. NEOS Investment Management LLC bought a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at approximately $516,000. Finally, Rafferty Asset Management LLC raised its stake in shares of Ultragenyx Pharmaceutical by 21.2% during the 4th quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock worth $10,612,000 after purchasing an additional 38,859 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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.