Citigroup Issues Pessimistic Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective decreased by Citigroup from $32.00 to $22.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup‘s target price would suggest a potential upside of 42.58% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. downgraded Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $36.00 in a research report on Thursday, September 3rd. Wells Fargo & Company upped their price objective on Ultragenyx Pharmaceutical from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday. William Blair upgraded Ultragenyx Pharmaceutical to a “hold” rating in a research report on Wednesday, September 23rd. Barclays decreased their price objective on Ultragenyx Pharmaceutical from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Cantor Fitzgerald boosted their target price on Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Hold” and an average target price of $29.79.

Ultragenyx Pharmaceutical Trading Down 0.9%

Shares of Ultragenyx Pharmaceutical stock traded down $0.14 on Thursday, hitting $15.43. 4,049,110 shares of the company traded hands, compared to its average volume of 3,379,657. The firm’s 50-day simple moving average is $16.02 and its 200 day simple moving average is $22.71. The company has a market cap of $1.52 billion, a P/E ratio of -2.97 and a beta of 0.37. Ultragenyx Pharmaceutical has a 12-month low of $12.73 and a 12-month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.06). The firm had revenue of $173.00 million for the quarter, compared to the consensus estimate of $182.49 million. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.81) earnings per share. Analysts predict that Ultragenyx Pharmaceutical will post -3.45 earnings per share for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,066 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $15.27, for a total value of $107,897.82. Following the completion of the sale, the chief financial officer directly owned 89,229 shares of the company’s stock, valued at $1,362,526.83. The trade was a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 8,510 shares of company stock valued at $127,561. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at about $355,746,000. Jefferies Financial Group Inc. grew its position in Ultragenyx Pharmaceutical by 44.1% during the 3rd quarter. Jefferies Financial Group Inc. now owns 1,339,814 shares of the biopharmaceutical company’s stock worth $20,137,000 after acquiring an additional 410,188 shares during the last quarter. Bank of America Corp DE purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $38,347,000. Candriam S.C.A. increased its stake in Ultragenyx Pharmaceutical by 37.1% in the 1st quarter. Candriam S.C.A. now owns 1,096,182 shares of the biopharmaceutical company’s stock worth $22,965,000 after purchasing an additional 296,798 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Ultragenyx Pharmaceutical by 20.4% in the third quarter. Russell Investments Group Ltd. now owns 944,240 shares of the biopharmaceutical company’s stock valued at $14,256,000 after purchasing an additional 160,141 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

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

Ultragenyx Pharmaceutical Company Profile

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.