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

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $118.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 189.22% from the stock’s current price.

A number of other analysts also recently issued reports on RARE. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Piper Sandler boosted their price target on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company increased their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.50.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE opened at $40.80 on Wednesday. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of -6.44 and a beta of 0.60. The firm has a fifty day moving average price of $42.99 and a 200 day moving average price of $49.30. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37.

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

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the transaction, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 259.5% in 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 period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter worth approximately $35,000. Human Investing LLC bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $42,000. True Wealth Design LLC purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at approximately $43,000. Finally, Van ECK Associates Corp raised its stake in Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 273 shares in the last quarter. 97.67% of the stock is currently 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.