Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Gets Price Target Cut from The Goldman Sachs Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target cut by The Goldman Sachs Group from $19.00 to $17.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on RARE. Jefferies Financial Group lowered their price objective on Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. HC Wainwright dropped their price objective on Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Citigroup boosted their target price on Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Wells Fargo & Company upped their target price on Ultragenyx Pharmaceutical from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Cantor Fitzgerald raised their price target on Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Hold” and an average target price of $29.79.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock traded down $0.14 during midday trading on Wednesday, reaching $15.43. 4,049,110 shares of the stock were exchanged, compared to its average volume of 3,379,657. The company’s fifty day moving average is $16.02 and its 200-day moving average is $22.71. The firm has a market cap of $1.52 billion, a PE ratio of -2.97 and a beta of 0.37. Ultragenyx Pharmaceutical has a 52 week low of $12.73 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.06). The business had revenue of $173.00 million for the quarter, compared to analysts’ expectations of $182.49 million. Ultragenyx Pharmaceutical’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm posted ($1.81) earnings per share. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -3.45 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,066 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $15.27, for a total value of $107,897.82. Following the completion of the transaction, the chief financial officer directly owned 89,229 shares in the company, valued at approximately $1,362,526.83. This represents a 7.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 8,510 shares of company stock worth $127,561 over the last three months. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently modified their holdings of RARE. Versant Capital Management Inc raised its holdings in shares of Ultragenyx Pharmaceutical by 662.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,001 shares in the last quarter. Quantbot Technologies LP bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $48,000. Harbor Investment Advisory LLC bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $52,000. Parallel Advisors LLC boosted its stake in Ultragenyx Pharmaceutical by 778.4% in the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 1,440 shares in the last quarter. Finally, Leonteq Securities AG boosted its stake in Ultragenyx Pharmaceutical by 288.5% in the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,333 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

Ultragenyx Pharmaceutical News Roundup

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

• Positive Sentiment: The UK medicines regulator has accepted Ultragenyx’s marketing application for rebi-vec (UX111), its gene therapy for Sanfilippo syndrome Type A, and is reviewing it. This is a step toward a possible UK authorization, but the therapy remains investigational and has not been approved. Company announcement
• Positive Sentiment: H.C. Wainwright and TD Cowen both reiterated Buy ratings, signaling that these analysts see potential despite recent price-target reductions. H.C. Wainwright rating TD Cowen rating
• Negative Sentiment: Several firms have lowered their price targets, reflecting more restrained expectations. Canaccord cut its target from $39 to $34, Citi reduced its target from $32 to $22, and Barclays lowered its target from $35 to $32; all retained Buy or Overweight ratings. The revisions may weigh on sentiment even as analysts remain positive on the shares. Canaccord target revision Citi target revision

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.