Canaccord Genuity Group Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $109.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target dropped by equities research analysts at Canaccord Genuity Group from $111.00 to $109.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 159.77% from the company’s current price.

Other research analysts have also issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, May 3rd. Robert W. Baird lifted their target price on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Wedbush reduced their target price on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Finally, TD Cowen lifted their target price on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $87.85.

Ultragenyx Pharmaceutical Stock Down 2.4 %

NASDAQ:RARE opened at $41.96 on Monday. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $54.98. The firm has a market capitalization of $3.49 billion, a P/E ratio of -5.23 and a beta of 0.68. The stock’s fifty day simple moving average is $46.87 and its 200-day simple moving average is $44.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative return on equity of 421.88% and a negative net margin of 138.58%. The company had revenue of $108.83 million during the quarter, compared to the consensus estimate of $116.03 million. During the same quarter in the prior year, the business earned ($2.33) earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts expect that Ultragenyx Pharmaceutical will post -6.38 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the sale, the executive vice president now owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Matthew K. Fust sold 12,195 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.88, for a total value of $620,481.60. Following the sale, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas Richard Kassberg sold 11,509 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $49.93, for a total value of $574,644.37. Following the completion of the sale, the executive vice president now directly owns 252,823 shares in the company, valued at approximately $12,623,452.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,116 shares of company stock valued at $1,645,983. 6.80% of the stock is owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of RARE. SG Americas Securities LLC raised its stake in Ultragenyx Pharmaceutical by 390.4% in the third quarter. SG Americas Securities LLC now owns 12,156 shares of the biopharmaceutical company’s stock valued at $433,000 after buying an additional 9,677 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Ultragenyx Pharmaceutical by 127.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,108 shares of the biopharmaceutical company’s stock valued at $788,000 after buying an additional 12,403 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ultragenyx Pharmaceutical by 19.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,136 shares of the biopharmaceutical company’s stock valued at $504,000 after buying an additional 2,292 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Ultragenyx Pharmaceutical by 9.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 210,968 shares of the biopharmaceutical company’s stock valued at $7,521,000 after buying an additional 18,845 shares during the period. Finally, TD Asset Management Inc raised its stake in Ultragenyx Pharmaceutical by 74.4% in the third quarter. TD Asset Management Inc now owns 205,360 shares of the biopharmaceutical company’s stock valued at $7,321,000 after buying an additional 87,580 shares during the period. Institutional investors 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.