Guggenheim Issues Pessimistic Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Key Points

• Guggenheim cut Ultragenyx Pharmaceutical’s price target from $43 to $35 but maintained a “buy” rating, implying roughly 40% upside from the prior close. The broader analyst consensus remains “Moderate Buy,” with an average target of $57.94.
• Ultragenyx reported a quarterly loss of $1.84 per share versus the expected $1.49 loss, while revenue of $136 million fell short of the $158.19 million estimate and declined 2.2% year over year.
• Shares opened at $25.02, near the lower end of their 12-month range, while insiders sold 14,292 shares worth approximately $351,644 over the past 90 days.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its price target reduced by investment analysts at Guggenheim from $43.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Guggenheim's price objective indicates a potential upside of 39.89% from the company's previous close.

Several other equities analysts have also issued reports on RARE. Wedbush decreased their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 9th. Cantor Fitzgerald upped their target price on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, May 21st. Wells Fargo & Company lifted their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley boosted their price target on shares of Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of "Moderate Buy" and an average price target of $57.94.

Ultragenyx Pharmaceutical Stock Up 0.4%

NASDAQ:RARE opened at $25.02 on Tuesday. Ultragenyx Pharmaceutical has a 12-month low of $18.29 and a 12-month high of $39.89. The firm has a market capitalization of $2.46 billion, a P/E ratio of -4.09 and a beta of 0.35. The stock's fifty day simple moving average is $27.71 and its 200-day simple moving average is $24.74.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing analysts' consensus estimates of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The company had revenue of $136.00 million for the quarter, compared to analyst estimates of $158.19 million. During the same period last year, the firm earned ($1.57) earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts expect that Ultragenyx Pharmaceutical will post -4.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 4,653 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the transaction, the chief financial officer directly owned 105,689 shares in the company, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm's 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 sale, the director owned 21,095 shares in the company, valued at $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,292 shares of company stock valued at $351,644 over the last 90 days. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake 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 purchasing an additional 1,440 shares during the period. Leonteq Securities AG raised its stake 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 valued at $38,000 after purchasing an additional 1,333 shares during the period. Versant Capital Management Inc raised its stake in shares of Ultragenyx Pharmaceutical by 662.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,001 shares during the period. Danske Bank A S acquired a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 573.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 1,845 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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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