Ultragenyx Pharmaceutical’s (RARE) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report published on Wednesday,Benzinga reports. They currently have a $118.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on RARE. Wedbush restated a “neutral” rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Finally, Piper Sandler raised their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $42.92 on Wednesday. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37. The stock has a market cap of $3.97 billion, a PE ratio of -6.77 and a beta of 0.60. The firm’s 50-day simple moving average is $42.93 and its 200 day simple moving average is $49.19.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The firm had revenue of $164.88 million for the quarter, compared to analysts’ expectations of $163.23 million. As a group, analysts predict that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the transaction, the chief executive officer now owns 2,183,985 shares in the company, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RARE. Norges Bank bought a new position in Ultragenyx Pharmaceutical in the 4th quarter worth about $40,463,000. Alkeon Capital Management LLC boosted its stake in Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after purchasing an additional 769,884 shares during the period. Vestal Point Capital LP boosted its position in shares of Ultragenyx Pharmaceutical by 100.0% during the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after acquiring an additional 750,000 shares during the last quarter. Deep Track Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $27,493,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Ultragenyx Pharmaceutical by 125.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock worth $49,375,000 after purchasing an additional 653,088 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

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.