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 report released on Tuesday, Benzinga reports. The brokerage currently has a $116.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group reiterated a buy rating and set a $111.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Barclays reduced their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an overweight rating on the stock in a research note on Monday, August 5th. The Goldman Sachs Group raised their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada restated an outperform rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $87.43.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $56.51 on Tuesday. The firm’s fifty day moving average price is $53.50 and its two-hundred day moving average price is $46.74. The stock has a market cap of $4.70 billion, a PE ratio of -7.04 and a beta of 0.56. Ultragenyx Pharmaceutical has a fifty-two week low of $31.52 and a fifty-two week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. The business had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. Ultragenyx Pharmaceutical’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.25) EPS. As a group, sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $50.17, for a total transaction of $1,003,400.00. Following the transaction, the chief executive officer now directly owns 2,243,985 shares of the company’s stock, valued at $112,580,727.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 40,091 shares of company stock worth $2,125,513. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RARE. TD Asset Management Inc raised its holdings in shares of Ultragenyx Pharmaceutical by 7.8% in the 4th quarter. TD Asset Management Inc now owns 221,360 shares of the biopharmaceutical company’s stock worth $10,585,000 after acquiring an additional 16,000 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Ultragenyx Pharmaceutical by 17.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 34,853 shares of the biopharmaceutical company’s stock worth $1,667,000 after purchasing an additional 5,150 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Ultragenyx Pharmaceutical by 13.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 272,339 shares of the biopharmaceutical company’s stock worth $13,023,000 after purchasing an additional 31,482 shares during the last quarter. NEOS Investment Management LLC bought a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter valued at approximately $516,000. Finally, Rafferty Asset Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 21.2% during the fourth quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock valued at $10,612,000 after buying an additional 38,859 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

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.