Cantor Fitzgerald Reaffirms “Overweight” Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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

A number of other equities analysts also recently commented on the stock. Canaccord Genuity Group reiterated a buy rating and issued a $111.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Barclays reduced their target price 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. Wells Fargo & Company boosted their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Royal Bank of Canada reiterated an outperform rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Thursday, September 26th. Finally, Wedbush boosted their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of Moderate Buy and a consensus target price of $87.43.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $53.79 on Tuesday. The business has a 50-day moving average price of $54.29 and a 200 day moving average price of $46.96. The company has a market capitalization of $4.47 billion, a P/E ratio of -6.70 and a beta of 0.57. Ultragenyx Pharmaceutical has a 1-year low of $31.52 and a 1-year high of $60.37.

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

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total value of $1,003,400.00. Following the sale, the chief executive officer now owns 2,243,985 shares in the company, valued at $112,580,727.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 40,091 shares of company stock worth $2,125,513 over the last quarter. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Ultragenyx Pharmaceutical by 0.3% in the first quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock valued at $406,203,000 after acquiring an additional 26,575 shares during the period. RTW Investments LP lifted its holdings in Ultragenyx Pharmaceutical by 27.4% in the fourth 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 during the period. Price T Rowe Associates Inc. MD lifted its holdings in Ultragenyx Pharmaceutical by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after acquiring an additional 120,175 shares during the period. Clearbridge Investments LLC lifted its holdings in Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after acquiring an additional 17,362 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock valued at $86,599,000 after acquiring an additional 168,345 shares during the period. 97.67% of the stock is 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.