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

Cantor Fitzgerald reiterated their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report report published on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $116.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. TD Cowen lifted their price target on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Thursday, September 26th. The Goldman Sachs Group increased their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.08.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $53.82 on Tuesday. The company’s fifty day moving average price is $56.04 and its 200-day moving average price is $47.78. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -6.70 and a beta of 0.57. Ultragenyx Pharmaceutical has a one year low of $32.55 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The company had revenue of $147.03 million during the quarter, compared to analyst estimates of $123.20 million. During the same period in the previous year, the business earned ($2.25) earnings per share. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. As a group, equities research analysts expect that Ultragenyx Pharmaceutical will post -6.28 EPS for the current year.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s 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 in the company, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,556 shares of company stock valued at $2,519,367. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of RARE. Vanguard Group Inc. boosted its position in Ultragenyx Pharmaceutical by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after acquiring an additional 1,440,264 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after purchasing an additional 942,529 shares during the period. Avoro Capital Advisors LLC boosted its position in shares of Ultragenyx Pharmaceutical by 137.1% during the first quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock valued at $38,753,000 after purchasing an additional 480,000 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in Ultragenyx Pharmaceutical in the second quarter worth $17,468,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Ultragenyx Pharmaceutical by 513.8% in 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 during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.