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

Cantor Fitzgerald restated their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research note released on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $118.00 target price on the biopharmaceutical company’s stock.

RARE has been the topic of several other reports. Piper Sandler raised their price objective on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group raised their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.50.

Ultragenyx Pharmaceutical Trading Up 2.0 %

NASDAQ RARE opened at $41.62 on Wednesday. The stock has a market cap of $3.85 billion, a PE ratio of -6.56 and a beta of 0.60. Ultragenyx Pharmaceutical has a 12 month low of $37.02 and a 12 month high of $60.37. The company’s 50-day moving average price is $42.96 and its 200-day moving average price is $49.24.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. As a group, sell-side analysts forecast that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently bought and sold shares of RARE. Smartleaf Asset Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 493 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Ultragenyx Pharmaceutical during the 4th quarter worth $35,000. Human Investing LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 4th quarter valued at about $42,000. True Wealth Design LLC purchased a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at $43,000. Finally, Van ECK Associates Corp boosted its stake in shares of Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds 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.