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

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $116.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 94.17% from the company’s previous close.

A number of other research firms also recently issued reports on RARE. Canaccord Genuity Group restated a “buy” rating and issued a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Wedbush raised their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays dropped their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Robert W. Baird increased their price objective on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Stifel Nicolaus increased their price objective on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $87.43.

Ultragenyx Pharmaceutical Trading Up 1.7 %

NASDAQ RARE traded up $1.00 during trading hours on Monday, reaching $59.74. 425,516 shares of the company traded hands, compared to its average volume of 791,971. Ultragenyx Pharmaceutical has a 12 month low of $31.52 and a 12 month high of $59.83. The stock has a market capitalization of $5.51 billion, a PE ratio of -7.38 and a beta of 0.56. The company has a 50 day moving average of $50.47 and a two-hundred day moving average of $46.20.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The firm had revenue of $147.03 million for the quarter, compared to the consensus estimate of $123.20 million. During the same period in the prior year, the firm posted ($2.25) EPS. The firm’s revenue was up 35.7% compared to the same quarter last year. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,243,985 shares in the company, valued at $112,580,727.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 40,675 shares of company stock worth $2,149,446 over the last ninety days. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Ultragenyx Pharmaceutical by 513.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock worth $23,677,000 after acquiring an additional 424,476 shares during the period. Franklin Resources Inc. raised its holdings in Ultragenyx Pharmaceutical by 13.3% during the 4th quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock worth $10,269,000 after purchasing an additional 25,144 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Ultragenyx Pharmaceutical by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock worth $112,096,000 after purchasing an additional 17,362 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in Ultragenyx Pharmaceutical by 21.2% during the 4th quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock worth $10,612,000 after purchasing an additional 38,859 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Ultragenyx Pharmaceutical by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after purchasing an additional 120,175 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.