Cantor Fitzgerald Reaffirms Overweight Rating for Ultragenyx Pharmaceutical (NASDAQ:RARE)

by · The Markets Daily

Cantor Fitzgerald restated their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE – Free Report) in a research note released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $116.00 price objective on the biopharmaceutical company’s stock.

RARE has been the topic of several other reports. Canaccord Genuity Group reaffirmed a buy rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Robert W. Baird increased their price target on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an outperform rating in a research report on Friday, May 31st. Barclays reduced their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an overweight rating for the company in a research note on Monday, August 5th. Wedbush upped their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group lifted their price target on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a buy rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $87.43.

View Our Latest Stock Report on Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE opened at $57.70 on Monday. The company has a market cap of $4.80 billion, a price-to-earnings ratio of -7.19 and a beta of 0.56. The stock’s fifty day moving average price is $51.46 and its 200 day moving average price is $46.37. Ultragenyx Pharmaceutical has a 1 year low of $31.52 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The business had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. During the same period in the prior year, the company earned ($2.25) earnings per share. The company’s revenue was up 35.7% on a year-over-year basis. Research analysts expect that Ultragenyx Pharmaceutical will post -6.24 earnings per share for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 40,675 shares of company stock valued at $2,149,446. 5.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Ultragenyx Pharmaceutical by 513.8% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock worth $23,677,000 after purchasing an additional 424,476 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Ultragenyx Pharmaceutical by 13.3% in the fourth quarter. Franklin Resources Inc. now owns 214,738 shares of the biopharmaceutical company’s stock valued at $10,269,000 after buying an additional 25,144 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Ultragenyx Pharmaceutical by 0.7% in the first quarter. Clearbridge Investments LLC now owns 2,400,854 shares of the biopharmaceutical company’s stock valued at $112,096,000 after buying an additional 17,362 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 21.2% in the fourth quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock worth $10,612,000 after buying an additional 38,859 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Ultragenyx Pharmaceutical by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after acquiring an additional 120,175 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

(Get Free Report)

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.

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