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

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $118.00 target price on the biopharmaceutical company's stock. Cantor Fitzgerald's price target would indicate a potential upside of 174.93% from the stock's previous close.

Several other analysts have also issued reports on RARE. Piper Sandler boosted their price target on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wedbush reissued a "neutral" rating and set a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, November 21st. Finally, Canaccord Genuity Group upped their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $93.50.

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Ultragenyx Pharmaceutical Stock Performance

RARE traded up $0.95 on Wednesday, hitting $42.92. 910,491 shares of the company were exchanged, compared to its average volume of 866,523. The firm has a fifty day simple moving average of $42.91 and a two-hundred day simple moving average of $49.14. Ultragenyx Pharmaceutical has a 12 month low of $37.02 and a 12 month high of $60.37. The stock has a market capitalization of $3.97 billion, a PE ratio of -6.77 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts' consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm had revenue of $164.88 million during the quarter, compared to analysts' expectations of $163.23 million. On average, equities analysts expect that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical 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 sale, the chief executive officer now owns 2,183,985 shares of the company's stock, valued at $92,229,686.55. This represents a 0.53 % 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. Company insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its holdings in Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 493 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $35,000. Human Investing LLC acquired a new position in Ultragenyx Pharmaceutical in the fourth quarter worth $42,000. True Wealth Design LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at about $43,000. Finally, Van ECK Associates Corp grew its holdings in shares of Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock valued at $74,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

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.