Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $39.00 at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price upped by research analysts at Canaccord Genuity Group from $37.00 to $39.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 168.97% from the company’s previous close.

Several other equities research analysts also recently commented on the company. The Goldman Sachs Group dropped their target price on Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 4th. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Wedbush lowered their price objective on Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, September 3rd. Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barclays lowered their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $37.05.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $14.50 on Friday. The firm’s 50-day moving average price is $24.26 and its 200-day moving average price is $24.49. The company has a market capitalization of $1.43 billion, a PE ratio of -2.48 and a beta of 0.31. Ultragenyx Pharmaceutical has a 1-year low of $12.73 and a 1-year high of $39.89.

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

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of RARE. Versant Capital Management Inc grew its position in shares of Ultragenyx Pharmaceutical by 662.9% in the second 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. GAMMA Investing LLC raised its position in shares of Ultragenyx Pharmaceutical by 149.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,919 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,150 shares during the last quarter. Leonteq Securities AG lifted its stake in Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,333 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth about $48,000. Finally, Parallel Advisors LLC increased its stake in Ultragenyx Pharmaceutical by 778.4% during the 1st 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. 97.67% of the stock is owned by institutional investors.

Trending Headlines about Ultragenyx Pharmaceutical

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

• Positive Sentiment: The FDA approved FAYUVI (rebisufligene etisparvovec-hopf) as the first approved treatment for pediatric Sanfilippo syndrome Type A, a fatal and progressive neurodegenerative disease with no prior treatment options. The therapy is designed to deliver a functional copy of the deficient SGSH gene. Reuters FDA approval article
• Positive Sentiment: Clinical data supported full approval: treated patients showed a 23.5-point cognitive-score advantage versus an external natural-history group, with follow-up extending nearly eight years. Ultragenyx also received a Priority Review Voucher, which could accelerate a future drug candidate’s FDA review. Ultragenyx FAYUVI approval release
• Positive Sentiment: FAYUVI is Ultragenyx’s second approved gene therapy and sixth FDA-approved product. The company expects shipments to qualified treatment centers within 30–60 days and has established its UltraCare program to help families navigate treatment and insurance access. Reports indicate a $3.95 million price, creating significant revenue potential if reimbursement and adoption are favorable. FAYUVI pricing article

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company’s work includes therapies for genetic, metabolic and skeletal disorders, with an emphasis on conditions that have limited or no effective treatment options.

Ultragenyx’s marketed products include Crysvita (burosumab), used to treat certain forms of X-linked hypophosphatemia and tumor-induced osteomalacia; Dojolvi (triheptanoin), a medical food for long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab), a treatment for homozygous familial hypercholesterolemia.