Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Target Lowered at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target dropped by analysts at Canaccord Genuity Group from $39.00 to $34.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group‘s price target would suggest a potential upside of 98.14% from the company’s previous close.

A number of other brokerages have also weighed in on RARE. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America downgraded shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating in a research report on Thursday, September 3rd. Cantor Fitzgerald increased their price objective on shares of Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. The Goldman Sachs Group lowered their price objective on shares of Ultragenyx Pharmaceutical from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, UBS Group started coverage on shares of Ultragenyx Pharmaceutical in a research report on Thursday, October 15th. They issued a “neutral” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.45.

Ultragenyx Pharmaceutical Trading Up 3.2%

NASDAQ RARE traded up $0.53 during trading hours on Wednesday, reaching $17.16. 7,509,139 shares of the company’s stock were exchanged, compared to its average volume of 2,873,975. The stock has a market cap of $1.69 billion, a PE ratio of -2.94 and a beta of 0.37. Ultragenyx Pharmaceutical has a one year low of $12.73 and a one year high of $39.89. The firm has a fifty day moving average of $16.64 and a 200-day moving average of $22.81.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.06). The business had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $182.49 million. The business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted ($1.81) EPS. As a group, research analysts forecast that Ultragenyx Pharmaceutical will post -4.30 EPS for the current year.

Insider Activity

In other news, CFO Howard Horn sold 7,066 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $15.27, for a total transaction of $107,897.82. Following the transaction, the chief financial officer owned 89,229 shares of the company’s stock, valued at $1,362,526.83. This represents a 7.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 8,510 shares of company stock worth $127,561 over the last quarter. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RARE. BlackRock Inc. bought a new stake in Ultragenyx Pharmaceutical in the second quarter valued at about $355,746,000. Bank of America Corp DE bought a new position in Ultragenyx Pharmaceutical during the second quarter worth about $38,347,000. Jefferies Financial Group Inc. acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth about $31,040,000. Eagle Health Investments LP acquired a new position in shares of Ultragenyx Pharmaceutical during the 1st quarter worth about $18,522,000. Finally, Palo Alto Investors LP acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth about $19,916,968. Institutional investors own 97.67% of the company’s stock.

Key Stories Impacting Ultragenyx Pharmaceutical

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: Ultragenyx reported FDA approvals for GENGLYCOS and FAYUVI and agreed to sell two priority review vouchers for a combined $413 million. The proceeds could provide a meaningful financial boost. Ultragenyx Q3 results and company announcement
• Positive Sentiment: The company reaffirmed its 2027 profitability outlook and said expense reductions are expected to lower 2027 R&D spending by at least 50% compared with 2025. Ultragenyx Q3 results and company announcement
• Positive Sentiment: TD Cowen raised its price target to $19 and maintained a Buy rating. TD Cowen recommendations
• Neutral Sentiment: Analyst views were mixed: Morgan Stanley, Wells Fargo and Wedbush raised their targets, while retaining Equal Weight or Neutral ratings; Goldman Sachs cut its target to $17 and kept a Neutral rating. Morgan Stanley recommendations Wells Fargo recommendations Wedbush recommendations Goldman Sachs recommendations
• Negative Sentiment: Q3 revenue of $173 million was below the roughly $182 million consensus, and the $1.16-per-share loss was wider than expected. Revenue still grew 8.2% year over year, and the loss narrowed from $1.81 a year earlier. Ultragenyx Q3 earnings
• Negative Sentiment: A Seeking Alpha analysis argued that growth remains reliant on CRYSVITA, newer launches contribute little, and the pivot toward profitability depends heavily on deep R&D cuts amid pipeline setbacks. Ultragenyx analysis

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.