Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Overweight Rating from Cantor Fitzgerald

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report)'s stock had its "overweight" rating reiterated by stock analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They presently have a $107.00 target price on the biopharmaceutical company's stock. Cantor Fitzgerald's price target indicates a potential upside of 112.98% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group lifted their price objective on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday, February 21st. Wedbush lifted their price objective on Ultragenyx Pharmaceutical from $47.00 to $48.00 and gave the company a "neutral" rating in a report on Friday, February 16th. Wells Fargo & Company initiated coverage on Ultragenyx Pharmaceutical in a report on Friday, December 8th. They set an "overweight" rating and a $72.00 price objective on the stock. Robert W. Baird lifted their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $91.55.

Ultragenyx Pharmaceutical Stock Performance

RARE traded up $3.16 during midday trading on Friday, reaching $50.24. 981,019 shares of the company were exchanged, compared to its average volume of 759,928. Ultragenyx Pharmaceutical has a one year low of $31.52 and a one year high of $54.98. The stock has a market capitalization of $4.13 billion, a P/E ratio of -6.03 and a beta of 0.65. The stock's 50-day simple moving average is $47.70 and its 200 day simple moving average is $42.78.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.65) by $0.13. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The firm had revenue of $127.39 million for the quarter, compared to analysts' expectations of $119.38 million. During the same quarter last year, the business earned ($2.16) earnings per share. The company's revenue was up 23.3% compared to the same quarter last year. On average, research analysts anticipate that Ultragenyx Pharmaceutical will post -6.34 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 3,756 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.76, for a total value of $201,922.56. Following the sale, the executive vice president now owns 67,340 shares of the company's stock, valued at $3,620,198.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Thomas Richard Kassberg sold 11,509 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $49.93, for a total transaction of $574,644.37. Following the transaction, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Karah Herdman Parschauer sold 3,756 shares of the business's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $201,922.56. Following the transaction, the executive vice president now owns 67,340 shares in the company, valued at $3,620,198.40. The disclosure for this sale can be found here. Insiders have sold a total of 31,974 shares of company stock valued at $1,639,721 over the last 90 days. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently added to or reduced their stakes in the company. Sands Capital Management LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at $123,335,000. RTW Investments LP increased its holdings in shares of Ultragenyx Pharmaceutical by 27.4% in the fourth quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company's stock valued at $329,340,000 after purchasing an additional 1,481,997 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company's stock valued at $414,764,000 after purchasing an additional 1,440,264 shares during the last quarter. Norges Bank acquired a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at $36,846,000. Finally, BlackRock Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 12.4% in the first quarter. BlackRock Inc. now owns 4,873,356 shares of the biopharmaceutical company's stock valued at $195,422,000 after purchasing an additional 536,513 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.