Wedbush Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $23.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target cut by Wedbush from $30.00 to $23.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald reduced their target price on Ultragenyx Pharmaceutical from $103.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley upped their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. William Blair downgraded shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Thursday. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. downgraded shares of Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $36.00 in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $36.63.

Ultragenyx Pharmaceutical Trading Up 3.0%

Shares of RARE stock opened at $15.30 on Thursday. The stock has a 50 day simple moving average of $27.76 and a 200-day simple moving average of $24.97. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -2.62 and a beta of 0.31. Ultragenyx Pharmaceutical has a 12-month low of $13.81 and a 12-month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The firm had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same period in the previous year, the business earned ($1.17) earnings per share. The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. On average, equities analysts forecast that Ultragenyx Pharmaceutical will post -3.98 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the sale, the director owned 21,095 shares of the company’s stock, valued at $528,429.75. This represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karah Parschauer sold 1,899 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the transaction, the executive vice president directly owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Large investors have recently bought and sold shares of the stock. Corient Private Wealth LP increased its position in Ultragenyx Pharmaceutical by 7.3% during the second quarter. Corient Private Wealth LP now owns 146,493 shares of the biopharmaceutical company’s stock worth $4,891,000 after buying an additional 9,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at $1,036,000. California State Teachers Retirement System lifted its position in shares of Ultragenyx Pharmaceutical by 3,137.6% in the second quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company’s stock valued at $113,129,000 after acquiring an additional 3,283,467 shares in the last quarter. denkapparat Operations GmbH acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at $230,000. Finally, Nykredit A S acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at $154,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Key Stories Impacting Ultragenyx Pharmaceutical

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

• Positive Sentiment: Several analysts still see substantial potential upside after the selloff. Barclays maintained an “overweight” rating with a $32 price target, while Jefferies, Citigroup, TD Cowen, Canaccord Genuity, Cantor Fitzgerald and HC Wainwright retained bullish ratings despite sharply reducing their targets.
• Positive Sentiment: Ultragenyx is evaluating “significant” cost reductions following the trial failure, which could help preserve cash and improve the company’s financial outlook. Investors are also focusing on its existing commercial rare-disease portfolio. Ultragenyx to weigh significant cost cuts as Angelman drug fails key study
• Positive Sentiment: Unusually heavy call-option activity and speculation that Ultragenyx could become an acquisition target provide potential—but highly speculative—support for the stock. Ultragenyx potential M&A target
• Neutral Sentiment: Analyst views are increasingly divided. Goldman Sachs lowered its target to $19 and moved to “neutral,” while Barclays remains “overweight” at $32. Jefferies and Citi kept “buy” ratings but reduced targets to $28. The wide range reflects uncertainty over Ultragenyx’s post-trial growth prospects.
• Negative Sentiment: RBC downgraded the company to “hold,” while Bank of America, JPMorgan, Wells Fargo, Baird, Evercore, William Blair and others also reduced ratings or targets. Baird and Evercore now see only limited upside, signaling diminished confidence in the pipeline.
• Negative Sentiment: The Angelman syndrome failure creates greater dependence on Ultragenyx’s existing products and other pipeline programs. The company is weighing the future of the program, adding uncertainty around research spending, revenue growth and long-term valuation. Ultragenyx Angelman syndrome trial failure

About Ultragenyx Pharmaceutical

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.