Ultragenyx Pharmaceutical (NASDAQ:RARE) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) from an overweight rating to an equal weight rating in a research note released on Thursday morning, Marketbeat reports. The brokerage currently has $18.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $50.00.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 25th. Wedbush lowered their price objective on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Ultragenyx Pharmaceutical in a report on Monday, August 10th. Royal Bank Of Canada upped their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley increased their price target on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.63.

Ultragenyx Pharmaceutical Stock Up 3.0%

Shares of NASDAQ RARE opened at $15.30 on Thursday. Ultragenyx Pharmaceutical has a fifty-two week low of $13.81 and a fifty-two week high of $39.89. The firm’s 50-day simple moving average is $27.76 and its 200 day simple moving average is $24.97. The stock has a market cap of $1.51 billion, a P/E ratio of -2.62 and a beta of 0.31.

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

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Parschauer sold 1,899 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Corsee Sanders sold 2,000 shares of the stock in a transaction on 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 trade represents a 8.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently modified their holdings of RARE. Versant Capital Management Inc boosted its position in shares of Ultragenyx Pharmaceutical by 662.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,001 shares during the period. Danske Bank A S acquired a new stake in Ultragenyx Pharmaceutical during the 3rd quarter worth about $39,000. Quantbot Technologies LP acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $48,000. Harbor Investment Advisory LLC acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $52,000. Finally, Parallel Advisors LLC lifted its stake in Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 1,440 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about 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

Ultragenyx Pharmaceutical Company Profile

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.