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

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They currently have a $116.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 94.17% from the company’s current price.

A number of other brokerages have also recently commented on RARE. Wedbush raised their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Stifel Nicolaus boosted their price target on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Barclays lowered their target price on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Robert W. Baird upped their price objective on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Finally, Bank of America cut their price target on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Two 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.43.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE traded up $1.00 during trading hours on Monday, reaching $59.74. 425,516 shares of the stock were exchanged, compared to its average volume of 791,971. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $59.83. The firm has a 50 day moving average of $50.47 and a 200 day moving average of $46.20. The stock has a market cap of $5.51 billion, a PE ratio of -7.38 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted 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 return on equity of 266.02% and a negative net margin of 121.57%. The business had revenue of $147.03 million for the quarter, compared to analysts’ expectations of $123.20 million. During the same quarter in the prior year, the business earned ($2.25) EPS. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current year.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 40,675 shares of company stock worth $2,149,446. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RARE. UMB Bank n.a. grew its stake in shares of Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 352 shares during the period. US Bancorp DE grew its position in Ultragenyx Pharmaceutical by 5.8% in the 1st quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 390 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Ultragenyx Pharmaceutical by 2.1% in the second quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after acquiring an additional 434 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Ultragenyx Pharmaceutical by 8.7% in the 1st quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock valued at $284,000 after acquiring an additional 486 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Ultragenyx Pharmaceutical in the 1st quarter valued at approximately $28,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

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.