Guggenheim Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $43.00

Key Points

• Guggenheim cut its price target on Ultragenyx from $52 to $43 but kept a "buy" rating, with the new target implying roughly a 63% upside from the stock's prior close.
• Ultragenyx missed Q1 estimates, reporting ($1.84) EPS versus ($1.50) expected and $136M revenue versus $158.4M expected, alongside a negative net margin (~91%) and deeply negative ROE.
• Analyst sentiment remains a Moderate Buy overall, with an average consensus target of $60.41 and the majority of analysts rating the stock as Buy (14 Buy, 1 Strong Buy, 2 Hold, 1 Sell).

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its target price cut by equities research analysts at Guggenheim from $52.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Guggenheim's price target points to a potential upside of 63.11% from the stock's previous close.

Other analysts also recently issued research reports about the stock. Truist Financial raised shares of Ultragenyx Pharmaceutical to a "strong-buy" rating in a research note on Wednesday, March 25th. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Canaccord Genuity Group decreased their price target 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. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. One research 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 given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.41.

Ultragenyx Pharmaceutical Trading Up 0.9%

Shares of RARE opened at $26.36 on Friday. The company's fifty day simple moving average is $22.68 and its 200-day simple moving average is $26.80. The company has a market cap of $2.59 billion, a P/E ratio of -4.25 and a beta of 0.39. Ultragenyx Pharmaceutical has a twelve month low of $18.29 and a twelve month high of $42.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of ($1.50) by ($0.34). The firm had revenue of $136.00 million for the quarter, compared to analysts' expectations of $158.38 million. Ultragenyx Pharmaceutical had a negative return on equity of 2,272.48% and a negative net margin of 91.03%.Ultragenyx Pharmaceutical's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.57) earnings per share. Analysts predict that Ultragenyx Pharmaceutical will post -4.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Eric Crombez sold 7,029 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $160,261.20. Following the completion of the sale, the executive vice president directly owned 76,301 shares in the company, valued at approximately $1,739,662.80. This represents a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Theodore Alan Huizenga sold 1,632 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total value of $37,209.60. Following the transaction, the chief accounting officer directly owned 48,670 shares in the company, valued at $1,109,676. The trade was a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,522 shares of company stock worth $2,543,214 over the last quarter. Insiders own 5.20% of the company's stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Ultragenyx Pharmaceutical by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company's stock valued at $236,068,000 after buying an additional 131,087 shares during the period. State Street Corp lifted its holdings in Ultragenyx Pharmaceutical by 16.5% during the fourth quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company's stock worth $98,970,000 after buying an additional 610,559 shares during the period. Wellington Management Group LLP boosted its position in Ultragenyx Pharmaceutical by 26.6% during the 4th quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company's stock valued at $56,624,000 after acquiring an additional 516,781 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Ultragenyx Pharmaceutical by 1,030.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company's stock valued at $47,298,000 after acquiring an additional 2,057,951 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 614.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company's stock valued at $65,205,000 after acquiring an additional 1,864,164 shares during the period. Institutional investors own 97.67% of the company's stock.

About Ultragenyx Pharmaceutical

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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