Cantor Fitzgerald Reiterates “Overweight” Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $116.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 112.10% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group restated a “buy” rating and issued a $111.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. The Goldman Sachs Group increased their price objective on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Thursday, September 26th. TD Cowen boosted their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays lowered their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.29.

Ultragenyx Pharmaceutical Trading Down 0.2 %

Shares of NASDAQ RARE opened at $54.69 on Tuesday. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $60.37. The company has a market cap of $5.04 billion, a price-to-earnings ratio of -7.49 and a beta of 0.57. The stock’s 50 day simple moving average is $55.97 and its 200 day simple moving average is $47.71.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. The company had revenue of $147.03 million for the quarter, compared to analysts’ expectations of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period last year, the business posted ($2.25) earnings per share. As a group, equities analysts forecast that Ultragenyx Pharmaceutical will post -6.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,556 shares of company stock valued at $2,519,367. 5.80% of the stock is owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ultragenyx Pharmaceutical by 34.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,333 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 851 shares during the period. Values First Advisors Inc. acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $56,000. Assenagon Asset Management S.A. grew its position in Ultragenyx Pharmaceutical by 2.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 145,433 shares of the biopharmaceutical company’s stock worth $8,079,000 after purchasing an additional 3,259 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Ultragenyx Pharmaceutical by 6.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 78,095 shares of the biopharmaceutical company’s stock valued at $4,338,000 after purchasing an additional 4,806 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 29,580.0% in the third quarter. International Assets Investment Management LLC now owns 10,388 shares of the biopharmaceutical company’s stock valued at $577,000 after purchasing an additional 10,353 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

About Ultragenyx Pharmaceutical

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.