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

Cantor Fitzgerald reiterated their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report released on Wednesday morning,Benzinga reports. Cantor Fitzgerald currently has a $116.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also issued reports on the company. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. TD Cowen upped their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. HC Wainwright upped their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays decreased their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $86.69.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ:RARE opened at $50.36 on Wednesday. The firm has a market capitalization of $4.65 billion, a PE ratio of -7.78 and a beta of 0.58. The stock’s fifty day moving average is $55.06 and its 200 day moving average is $48.19. Ultragenyx Pharmaceutical has a fifty-two week low of $34.06 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 197.73%. The business had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same quarter in the prior year, the firm posted ($2.23) earnings per share. The business’s revenue for the quarter was up 42.3% on a year-over-year basis. Equities analysts forecast that Ultragenyx Pharmaceutical will post -6.29 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,556 shares of company stock valued at $1,515,967. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after purchasing an additional 942,529 shares during the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 137.1% in the first quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock worth $38,753,000 after buying an additional 480,000 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Ultragenyx Pharmaceutical by 513.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock valued at $23,677,000 after buying an additional 424,476 shares during the last quarter. Finally, Artal Group S.A. acquired a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at $8,308,000. 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.