Cantor Fitzgerald Reiterates Overweight Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They presently have a $116.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 130.02% from the company’s previous close.

RARE has been the subject of several other reports. Barclays lowered their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. The Goldman Sachs Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $111.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Wedbush upped their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, TD Cowen upped their price target on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $50.43 on Wednesday. Ultragenyx Pharmaceutical has a one year low of $34.06 and a one year high of $60.37. The company has a market cap of $4.65 billion, a P/E ratio of -6.91 and a beta of 0.58. The firm has a 50 day simple moving average of $55.19 and a two-hundred day simple moving average of $48.12.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. During the same period in the previous year, the business earned ($2.23) earnings per share. The company’s revenue was up 42.3% on a year-over-year basis. On average, analysts expect that Ultragenyx Pharmaceutical will post -6.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,556 shares of company stock valued at $1,515,967 over the last 90 days. 5.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently made changes to their positions in RARE. Allspring Global Investments Holdings LLC boosted its position 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. Capstone Investment Advisors LLC bought a new position in shares of Ultragenyx Pharmaceutical during the 1st quarter worth about $227,000. GSA Capital Partners LLP bought a new position in shares of Ultragenyx Pharmaceutical during the 1st quarter worth about $493,000. Duality Advisers LP boosted its position in shares of Ultragenyx Pharmaceutical by 1.5% during the 1st quarter. Duality Advisers LP now owns 39,977 shares of the biopharmaceutical company’s stock worth $1,867,000 after purchasing an additional 606 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Ultragenyx Pharmaceutical by 3.0% during the 1st quarter. Swiss National Bank now owns 145,852 shares of the biopharmaceutical company’s stock worth $6,810,000 after purchasing an additional 4,300 shares in the last quarter. Institutional investors 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.