Ultragenyx Pharmaceutical (NASDAQ:RARE) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report report published on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $118.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Ultragenyx Pharmaceutical’s FY2025 earnings at ($4.44) EPS.

Several other brokerages have also recently issued reports on RARE. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Wedbush reiterated a “neutral” rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $92.43.

Ultragenyx Pharmaceutical Stock Up 4.0 %

RARE opened at $42.94 on Wednesday. The firm has a market cap of $3.97 billion, a P/E ratio of -6.64 and a beta of 0.58. Ultragenyx Pharmaceutical has a 52 week low of $37.02 and a 52 week high of $60.37. The business has a fifty day simple moving average of $44.63 and a 200-day simple moving average of $49.59.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.45) by $0.05. The company had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. Ultragenyx Pharmaceutical’s revenue was up 42.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.23) EPS. Sell-side analysts expect that Ultragenyx Pharmaceutical will post -6.15 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew 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 last quarter. Alkeon Capital Management LLC grew its position 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 buying an additional 769,884 shares during the last quarter. Two Sigma Advisers LP increased its stake in Ultragenyx Pharmaceutical by 123.4% in the 3rd quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after buying an additional 545,600 shares during the period. Frazier Life Sciences Management L.P. purchased a new position in Ultragenyx Pharmaceutical during the 2nd quarter worth $17,468,000. Finally, Ikarian Capital LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth $9,943,000. 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.