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

Ultragenyx Pharmaceutical (NASDAQ:RARE)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $118.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 181.15% from the company’s current price.

Several other brokerages also recently weighed in on RARE. Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Wedbush reissued a “neutral” rating and issued a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.50.

Ultragenyx Pharmaceutical Trading Up 0.8 %

RARE stock opened at $41.97 on Wednesday. The company has a market capitalization of $3.88 billion, a PE ratio of -6.62 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 business’s fifty day moving average price is $42.96 and its 200 day moving average price is $49.24.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. Research analysts predict that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of large investors have recently modified their holdings of RARE. Norges Bank purchased a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth approximately $40,463,000. Alkeon Capital Management LLC increased its stake in Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after purchasing an additional 769,884 shares in the last quarter. Vestal Point Capital LP increased its stake in Ultragenyx Pharmaceutical by 100.0% in the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after purchasing an additional 750,000 shares in the last quarter. Deep Track Capital LP purchased a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at approximately $27,493,000. Finally, Pictet Asset Management Holding SA increased its stake in Ultragenyx Pharmaceutical by 125.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock valued at $49,375,000 after purchasing an additional 653,088 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.