Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $22.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley raised its price target on Ultragenyx from $20 to $22 while maintaining an “equal weight” rating; the new target implies 26.16% upside from the prior close.
• Third-quarter revenue rose 8.2% year over year to $173 million and the loss narrowed, but both revenue and adjusted loss per share missed analysts’ expectations.
• The company reaffirmed its 2026 revenue and 2027 profitability outlook, citing expense reductions and two FDA approvals; it also agreed to sell two priority review vouchers for a combined $413 million.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price target hoisted by analysts at Morgan Stanley from $20.00 to $22.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the biopharmaceutical company's stock. Morgan Stanley's target price indicates a potential upside of 26.16% from the company's previous close.

RARE has been the topic of a number of other reports. Guggenheim decreased their price objective on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Citigroup boosted their target price on Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, September 18th. Evercore lowered Ultragenyx Pharmaceutical from an "outperform" rating to an "in-line" rating and set a $16.00 price target on the stock. in a report on Thursday, September 3rd. Canaccord Genuity Group raised their price target on Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, September 18th. Finally, Cantor Fitzgerald lifted their price objective on shares of Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an "overweight" rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.65.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE traded up $0.81 on Wednesday, reaching $17.44. The company's stock had a trading volume of 3,483,973 shares, compared to its average volume of 2,852,942. Ultragenyx Pharmaceutical has a 52-week low of $12.73 and a 52-week high of $39.89. The company has a market cap of $1.72 billion, a P/E ratio of -2.99 and a beta of 0.37. The company has a 50-day simple moving average of $16.64 and a 200 day simple moving average of $22.81.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.06). The firm had revenue of $173.00 million for the quarter, compared to analysts' expectations of $182.49 million. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.81) EPS. On average, equities research analysts forecast that Ultragenyx Pharmaceutical will post -4.30 EPS for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,066 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $15.27, for a total value of $107,897.82. Following the sale, the chief financial officer owned 89,229 shares in the company, valued at $1,362,526.83. This trade represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 8,510 shares of company stock valued at $127,561. Corporate insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth $355,746,000. Bank of America Corp DE purchased a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth $38,347,000. Candriam S.C.A. boosted its position in Ultragenyx Pharmaceutical by 37.1% during the first quarter. Candriam S.C.A. now owns 1,096,182 shares of the biopharmaceutical company's stock valued at $22,965,000 after purchasing an additional 296,798 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Ultragenyx Pharmaceutical during the second quarter valued at about $31,040,000. Finally, Eagle Health Investments LP bought a new stake in Ultragenyx Pharmaceutical during the first quarter valued at about $18,522,000. 97.67% of the stock is currently owned by institutional investors.

Trending Headlines about Ultragenyx Pharmaceutical

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

• Positive Sentiment: The company reaffirmed its 2026 revenue and 2027 profitability outlook, and said cost reductions are expected to cut 2027 R&D expenses by at least 50% compared with 2025. Company results and outlook
• Positive Sentiment: Ultragenyx said the FDA approved GENGLYCOS and FAYUVI during the quarter. It also entered agreements to sell two priority review vouchers for a combined $413 million, adding a significant potential source of proceeds. Company results and outlook
• Positive Sentiment: Revenue increased 8.2% year over year to $173 million, while the quarterly loss narrowed to $1.16 per share from $1.81 a year earlier. Third-quarter results
• Neutral Sentiment: Analyst target revisions were mixed: Wells Fargo raised its target from $18 to $19 and kept an equal-weight rating, while Wedbush lowered its target from $25 to $22 and maintained a neutral rating.
• Negative Sentiment: Despite year-over-year improvement, Q3 results missed expectations: the $1.16-per-share loss was wider than analysts’ roughly $1.10 estimate, and $173 million in revenue was below the $182.49 million consensus. Q3 earnings report

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

Ultragenyx's commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.

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