Cantor Fitzgerald Issues Positive Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Key Points

• Cantor Fitzgerald raised its price target on Ultragenyx Pharmaceutical to $96 from $84 and kept an overweight rating, implying significant upside from the current share price.
• The company’s recent quarterly results missed expectations, with EPS of -$1.84 versus estimates of -$1.49 and revenue of $136 million versus the expected $158.19 million.
• Despite analyst optimism, the stock was trading around $23.28, near its 50-day average, and insiders have been selling shares while institutional investors still own 97.67% of the company.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price target upped by investment analysts at Cantor Fitzgerald from $84.00 to $96.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. Cantor Fitzgerald's price target points to a potential upside of 312.42% from the company's current price.

A number of other research analysts also recently issued reports on RARE. Truist Financial upgraded shares of Ultragenyx Pharmaceutical to a "strong-buy" rating in a research report on Wednesday, March 25th. Morgan Stanley raised their price target on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a report on Thursday, March 12th. Barclays cut their price objective on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Finally, Canaccord Genuity Group reduced their target price on Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.88.

Ultragenyx Pharmaceutical Trading Down 0.4%

NASDAQ RARE traded down $0.09 during trading hours on Thursday, hitting $23.28. 173,701 shares of the company's stock were exchanged, compared to its average volume of 2,165,542. The stock has a 50-day simple moving average of $23.18 and a 200 day simple moving average of $26.22. Ultragenyx Pharmaceutical has a 1-year low of $18.29 and a 1-year high of $42.37. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -3.81 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.49) by ($0.35). The business had revenue of $136.00 million during the quarter, compared to analyst estimates of $158.19 million. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. Ultragenyx Pharmaceutical's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted ($1.57) earnings per share. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -4.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 8,135 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $185,478.00. Following the transaction, the executive vice president directly owned 76,346 shares of the company's stock, valued at $1,740,688.80. The trade was a 9.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Erik Harris sold 10,539 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $240,289.20. Following the completion of the sale, the executive vice president owned 89,515 shares of the company's stock, valued at approximately $2,040,942. This represents a 10.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 117,262 shares of company stock worth $2,687,403. 5.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 14.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company's stock valued at $8,414,000 after acquiring an additional 29,984 shares in the last quarter. Creative Planning purchased a new position in Ultragenyx Pharmaceutical in the second quarter worth $454,000. American Century Companies Inc. bought a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at $366,000. M&T Bank Corp increased its position in shares of Ultragenyx Pharmaceutical by 19.7% during the 2nd quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company's stock valued at $263,000 after purchasing an additional 1,192 shares during the last quarter. Finally, Amundi increased its position in shares of Ultragenyx Pharmaceutical by 1,560.4% during the 2nd quarter. Amundi now owns 99,161 shares of the biopharmaceutical company's stock valued at $3,913,000 after purchasing an additional 93,189 shares during the last quarter. Institutional investors own 97.67% of the company's stock.

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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