Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $28.00 by Analysts at Jefferies Financial Group

Key Points

• Jefferies cut Ultragenyx’s price target from $77 to $28 but maintained a “buy” rating, implying 88.55% upside from the prior close.
• Analyst sentiment remains mixed but generally positive: the stock has a consensus “Moderate Buy” rating and a $37.53 average price target, although several firms recently lowered their targets or downgraded the shares.
• Ultragenyx shares fell $11.68 to $14.85 after the Phase 3 ASPPIRE trial failed to meet its primary and key secondary endpoints, raising doubts about the Angelman syndrome drug while the company’s commercial rare-disease therapies remain potential support.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price target decreased by analysts at Jefferies Financial Group from $77.00 to $28.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Jefferies Financial Group's price objective would indicate a potential upside of 88.55% from the company's previous close.

Several other research firms have also recently weighed in on RARE. TD Cowen decreased their price objective on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a "buy" rating for the company in a report on Thursday. JPMorgan Chase & Co. cut shares of Ultragenyx Pharmaceutical from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $80.00 to $36.00 in a report on Thursday. Morgan Stanley lifted their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an "overweight" rating in a research report on Friday, August 21st. Guggenheim decreased their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Finally, HC Wainwright decreased their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.53.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock traded down $11.68 during trading on Thursday, hitting $14.85. 27,027,359 shares of the company's stock traded hands, compared to its average volume of 2,391,737. Ultragenyx Pharmaceutical has a 1 year low of $13.81 and a 1 year high of $39.89. The business has a 50-day simple moving average of $28.36 and a 200-day simple moving average of $25.08. The stock has a market capitalization of $1.46 billion, a P/E ratio of -2.54 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts' consensus estimates of ($1.22) by $0.32. The business 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%.Ultragenyx Pharmaceutical's revenue was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.17) EPS. On average, equities analysts predict that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, EVP Karah Parschauer sold 1,899 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the completion of the transaction, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the sale, the director directly owned 21,095 shares of the company's stock, valued at $528,429.75. This represents a 8.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $355,746,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth about $6,397,000. Deutsche Bank AG bought a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth about $5,503,000. Corient Private Wealth LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth about $4,644,000. Finally, Blue Owl Capital Holdings LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth about $6,098,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Ultragenyx Pharmaceutical

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

• Positive Sentiment: Ultragenyx’s commercial business remains a potential support for the stock, and analysts noted that the company may still have value through its marketed rare-disease therapies and other pipeline programs. Ultragenyx Stock Sinks 47% on Drug Trial Failure. Why Wall Street Isn’t Giving Up Yet
• Positive Sentiment: Some analysts retained bullish ratings despite lowering their valuations: Citi, TD Cowen, Canaccord Genuity, Cantor Fitzgerald and HC Wainwright continued to rate the shares Buy or Overweight, with targets still above the current trading level. Why Wall Street Isn’t Giving Up Yet
• Positive Sentiment: Unusually high call-option activity and speculation that Ultragenyx could become an acquisition target provide potential, though highly speculative, sources of investor interest.
• Neutral Sentiment: Ultragenyx may evaluate “significant” cost reductions and reconsider the future of its Angelman syndrome program, potentially preserving cash but signaling a smaller development footprint. Ultragenyx to Weigh Significant Cost Cuts
• Neutral Sentiment: The company recently highlighted a successful 96-week randomized trial of GENGLYCOS (DTX401), offering a positive data point outside the failed Angelman program.
• Negative Sentiment: Phase 3 ASPPIRE failed to meet both its primary endpoint—change in Bayley-4 cognitive raw score—and the key secondary endpoint, the Multidomain Responder Index. The results cast substantial doubt on apazunersen’s development and commercial prospects. Ultragenyx Announces Phase 3 ASPPIRE Results
• Negative Sentiment: Multiple firms cut price targets and/or downgraded the stock, including Bank of America, JPMorgan, Wells Fargo, Evercore, Baird and Wedbush, reflecting sharply reduced estimates after the trial failure. Ultragenyx Shares Crater After Angelman Syndrome Drug Fails Late-Stage Trial

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company's commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.

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