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

Cantor Fitzgerald reiterated their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note published on Friday, Benzinga reports. They currently have a $107.00 price objective on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on RARE. TD Cowen boosted their target price on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Wedbush cut their target price on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a neutral rating on the stock in a research note on Friday. Robert W. Baird boosted their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Royal Bank of Canada assumed coverage on Ultragenyx Pharmaceutical in a research report on Monday, April 22nd. They set an outperform rating and a $77.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an overweight rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $88.00.

Ultragenyx Pharmaceutical Trading Down 1.0 %

Shares of NASDAQ:RARE traded down $0.45 during trading on Friday, hitting $42.75. 1,143,019 shares of the company’s stock traded hands, compared to its average volume of 786,481. Ultragenyx Pharmaceutical has a 52 week low of $31.52 and a 52 week high of $54.98. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -5.32 and a beta of 0.68. The company has a 50-day moving average price of $47.25 and a 200-day moving average price of $44.08.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.72) by ($0.31). The firm had revenue of $108.83 million during the quarter, compared to the consensus estimate of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 421.88%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.33) EPS. On average, analysts predict that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the sale, the insider now directly owns 89,268 shares of the company’s stock, valued at approximately $4,799,047.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 3,756 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were 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 approximately $3,620,198.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Richard Pinion sold 4,173 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $53.76, for a total transaction of $224,340.48. Following the completion of the sale, the insider now owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently added to or reduced their stakes in RARE. Covestor Ltd lifted its position in shares of Ultragenyx Pharmaceutical by 392.1% during the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 596 shares during the period. UMB Bank n.a. raised its stake in Ultragenyx Pharmaceutical by 118.8% in the fourth quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 329 shares in the last quarter. GAMMA Investing LLC raised its stake in Ultragenyx Pharmaceutical by 622.3% during the first quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 865 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ultragenyx Pharmaceutical by 97.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,831 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 903 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Ultragenyx Pharmaceutical by 34.0% during the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 400 shares during 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.