Cantor Fitzgerald Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $33.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lowered by Cantor Fitzgerald from $103.00 to $33.00 in a report issued on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently weighed in on RARE. Citigroup upped their price target on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. cut Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $36.00 in a report on Thursday. Morgan Stanley boosted their target price on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Royal Bank Of Canada upped their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Evercore cut Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price target for the company. in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.63.

Ultragenyx Pharmaceutical Stock Up 3.0%

Shares of NASDAQ RARE opened at $15.30 on Thursday. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -2.62 and a beta of 0.31. Ultragenyx Pharmaceutical has a 52 week low of $13.81 and a 52 week high of $39.89. The firm has a 50-day moving average price of $27.76 and a 200 day moving average price of $24.97.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. During the same period in the prior year, the business posted ($1.17) earnings per share. The firm’s revenue for the quarter was up 28.5% compared to the same quarter last year. Equities research analysts expect that Ultragenyx Pharmaceutical will post -3.98 EPS for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other news, EVP Karah Parschauer sold 1,899 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 of the company’s stock, valued at $2,325,654.44. This trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Corsee Sanders sold 2,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director 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. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $454,000. American Century Companies Inc. purchased a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $366,000. M&T Bank Corp increased its position in Ultragenyx Pharmaceutical by 19.7% during the 2nd quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 1,192 shares in the last quarter. Finally, Amundi raised its stake in Ultragenyx Pharmaceutical by 1,560.4% in 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. 97.67% of the stock is owned by institutional investors and hedge funds.

More Ultragenyx Pharmaceutical News

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

• Positive Sentiment: Several analysts still see substantial potential upside after the selloff. Barclays maintained an “overweight” rating with a $32 price target, while Jefferies, Citigroup, TD Cowen, Canaccord Genuity, Cantor Fitzgerald and HC Wainwright retained bullish ratings despite sharply reducing their targets.
• Positive Sentiment: Ultragenyx is evaluating “significant” cost reductions following the trial failure, which could help preserve cash and improve the company’s financial outlook. Investors are also focusing on its existing commercial rare-disease portfolio. Ultragenyx to weigh significant cost cuts as Angelman drug fails key study
• Positive Sentiment: Unusually heavy call-option activity and speculation that Ultragenyx could become an acquisition target provide potential—but highly speculative—support for the stock. Ultragenyx potential M&A target
• Neutral Sentiment: Analyst views are increasingly divided. Goldman Sachs lowered its target to $19 and moved to “neutral,” while Barclays remains “overweight” at $32. Jefferies and Citi kept “buy” ratings but reduced targets to $28. The wide range reflects uncertainty over Ultragenyx’s post-trial growth prospects.
• Negative Sentiment: RBC downgraded the company to “hold,” while Bank of America, JPMorgan, Wells Fargo, Baird, Evercore, William Blair and others also reduced ratings or targets. Baird and Evercore now see only limited upside, signaling diminished confidence in the pipeline.
• Negative Sentiment: The Angelman syndrome failure creates greater dependence on Ultragenyx’s existing products and other pipeline programs. The company is weighing the future of the program, adding uncertainty around research spending, revenue growth and long-term valuation. Ultragenyx Angelman syndrome trial failure

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.