Canaccord Genuity Group Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $39.00

Key Points

• Canaccord Genuity raised Ultragenyx’s price target to $39 from $37 and maintained a “buy” rating, implying roughly 169% upside from the prior close.
• Analyst sentiment remains broadly positive but mixed: MarketBeat reports a “Moderate Buy” consensus and an average target of $37.05, while several firms recently downgraded the stock or cut their targets.
• Ultragenyx recently reported better-than-expected quarterly results, with revenue of $214 million and an adjusted EPS loss of $0.90; the FDA also approved its FAYUVI gene therapy for pediatric Sanfilippo syndrome Type A, expanding its commercial product portfolio.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price target lifted by stock analysts at Canaccord Genuity Group from $37.00 to $39.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity Group's price objective points to a potential upside of 168.97% from the stock's previous close.

Other research analysts have also issued research reports about the company. Bank of America lowered Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating in a report on Thursday, September 3rd. Jefferies Financial Group decreased their price target on shares of Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. Robert W. Baird lowered shares of Ultragenyx Pharmaceutical from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $40.00 to $16.00 in a research report on Thursday, September 3rd. TD Cowen dropped their price target on Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.05.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $14.50 on Friday. The firm has a market capitalization of $1.43 billion, a P/E ratio of -2.48 and a beta of 0.31. Ultragenyx Pharmaceutical has a one year low of $12.73 and a one year high of $39.89. The company has a fifty day moving average price of $24.26 and a 200-day moving average price of $24.49.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.32. The company had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The firm's quarterly revenue was up 28.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.17) earnings per share. On average, analysts expect that Ultragenyx Pharmaceutical will post -3.98 earnings per share for the current year.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,001 shares during the period. Quantbot Technologies LP bought a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at approximately $48,000. Harbor Investment Advisory LLC purchased a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $52,000. Parallel Advisors LLC lifted its holdings in Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 1,440 shares during the period. Finally, Leonteq Securities AG grew its position in shares of Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 1,333 shares during the last quarter. Institutional investors own 97.67% of the company's stock.

Trending Headlines about Ultragenyx Pharmaceutical

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: The FDA approved FAYUVI (rebisufligene etisparvovec-hopf) as the first approved treatment for pediatric Sanfilippo syndrome Type A, a fatal and progressive neurodegenerative disease with no prior treatment options. The therapy is designed to deliver a functional copy of the deficient SGSH gene. Reuters FDA approval article
• Positive Sentiment: Clinical data supported full approval: treated patients showed a 23.5-point cognitive-score advantage versus an external natural-history group, with follow-up extending nearly eight years. Ultragenyx also received a Priority Review Voucher, which could accelerate a future drug candidate’s FDA review. Ultragenyx FAYUVI approval release
• Positive Sentiment: FAYUVI is Ultragenyx’s second approved gene therapy and sixth FDA-approved product. The company expects shipments to qualified treatment centers within 30–60 days and has established its UltraCare program to help families navigate treatment and insurance access. Reports indicate a $3.95 million price, creating significant revenue potential if reimbursement and adoption are favorable. FAYUVI pricing article

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company's work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx's marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.

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