Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $83.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target increased by Canaccord Genuity Group from $81.00 to $83.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on RARE. Wedbush lowered their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Citigroup raised their target price on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday. Guggenheim reduced their price target on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price target on Ultragenyx Pharmaceutical from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.89.

Ultragenyx Pharmaceutical Price Performance

RARE opened at $25.83 on Thursday. The company’s 50 day simple moving average is $28.58 and its two-hundred day simple moving average is $24.98. Ultragenyx Pharmaceutical has a 1-year low of $18.29 and a 1-year high of $39.89. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of -4.42 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. The business had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The business’s revenue was up 28.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.17) earnings per share. On average, equities analysts anticipate that Ultragenyx Pharmaceutical will post -4.03 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president owned 94,462 shares in the company, valued at $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the sale, the chief financial officer owned 105,689 shares in the company, valued at $2,512,227.53. This represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,552 shares of company stock worth $207,455. Insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $355,746,000. Vanguard Group Inc. boosted its stake in Ultragenyx Pharmaceutical by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 10,263,815 shares of the biopharmaceutical company’s stock worth $236,068,000 after buying an additional 131,087 shares during the period. State Street Corp boosted its stake in Ultragenyx Pharmaceutical by 16.5% during the fourth quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock worth $98,970,000 after buying an additional 610,559 shares during the period. Wellington Management Group LLP increased its position in shares of Ultragenyx Pharmaceutical by 26.6% during the fourth quarter. Wellington Management Group LLP now owns 2,461,910 shares of the biopharmaceutical company’s stock valued at $56,624,000 after acquiring an additional 516,781 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Ultragenyx Pharmaceutical by 1,030.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after acquiring an additional 2,057,951 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Ultragenyx Pharmaceutical

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: The FDA granted accelerated approval to Genglycos (pariglasgene brecaparvovec), Ultragenyx’s gene therapy for glycogen storage disease type Ia (GSDIa). It is the first FDA-approved treatment designed to address the underlying cause of the rare metabolic disorder, potentially expanding the company’s commercial opportunity and strengthening its gene-therapy platform. Ultragenyx Announces FDA Approval of Genglycos
• Positive Sentiment: Analysts raised their valuations following the approval. Cantor Fitzgerald increased its price target to $103 from $96 and maintained an “overweight” rating; Canaccord raised its target to $83 from $81 with a “buy” rating; Morgan Stanley lifted its target to $74 from $67 and maintained “overweight”; Citi raised its target to $58 from $45 with a “buy” rating; and Wells Fargo increased its target to $46 from $45 while retaining “overweight.” Ultragenyx FDA approval coverage
• Positive Sentiment: Wells Fargo described the gene-therapy launch as a potential long-term revenue tailwind, suggesting Genglycos could create a more durable growth stream for RARE if adoption and reimbursement develop as expected. Wells Fargo Genglycos analysis
• Neutral Sentiment: Despite the regulatory progress, investors still need evidence that Ultragenyx can convert approval into sustainable profitability. The company remains loss-making, making the pace of commercialization, revenue growth and cash generation important tests for the stock. Ultragenyx profitability analysis

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.