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

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

A number of other analysts also recently weighed in on the company. Piper Sandler boosted their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. JPMorgan Chase & Co. dropped 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. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Canaccord Genuity Group boosted their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $93.50.

Ultragenyx Pharmaceutical Trading Up 2.3 %

Shares of NASDAQ RARE opened at $42.92 on Wednesday. Ultragenyx Pharmaceutical has a 12 month low of $37.02 and a 12 month high of $60.37. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -6.77 and a beta of 0.60. The business has a 50-day moving average of $42.93 and a 200-day moving average of $49.19.

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

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of the company’s 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 owns 2,183,985 shares in the company, valued at $92,229,686.55. This 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 available through this hyperlink. 5.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RARE. International Assets Investment Management LLC grew its stake in Ultragenyx Pharmaceutical by 29,580.0% in the third quarter. International Assets Investment Management LLC now owns 10,388 shares of the biopharmaceutical company’s stock worth $577,000 after purchasing an additional 10,353 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Ultragenyx Pharmaceutical by 34.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,333 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 851 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Ultragenyx Pharmaceutical by 195.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,753 shares of the biopharmaceutical company’s stock worth $1,208,000 after purchasing an additional 14,394 shares during the period. Pallas Capital Advisors LLC purchased a new stake in Ultragenyx Pharmaceutical in the third quarter worth $598,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Ultragenyx Pharmaceutical by 81.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,726 shares of the biopharmaceutical company’s stock worth $985,000 after purchasing an additional 7,960 shares during the period. 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.