Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $37.00 by Analysts at Canaccord Genuity Group

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lowered by equities researchers at Canaccord Genuity Group from $83.00 to $37.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 39.46% from the stock’s current price.

RARE has been the subject of a number of other reports. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. Wells Fargo & Company downgraded shares of Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and set a $18.00 target price for the company. in a report on Thursday. Citigroup increased their price target on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Wall Street Zen raised Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Cantor Fitzgerald dropped their price objective on Ultragenyx Pharmaceutical from $103.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $43.95.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $26.53 on Thursday. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -4.54 and a beta of 0.31. Ultragenyx Pharmaceutical has a 1 year low of $18.29 and a 1 year high of $39.89. The firm has a fifty day moving average price of $28.36 and a 200-day moving average price of $25.08.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company had revenue of $214.00 million for the quarter, compared to the consensus estimate of $183.08 million. During the same period in the previous year, the business earned ($1.17) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was up 28.5% compared to the same quarter last year. Equities research analysts expect that Ultragenyx Pharmaceutical will post -3.97 EPS for the current year.

Insider Activity

In related news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the completion of the transaction, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the completion of the sale, the director directly owned 21,095 shares in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP boosted its holdings in shares of Ultragenyx Pharmaceutical by 7.3% in the 2nd quarter. Corient Private Wealth LP now owns 146,493 shares of the biopharmaceutical company’s stock worth $4,891,000 after purchasing an additional 9,949 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth about $1,036,000. California State Teachers Retirement System grew its stake in shares of Ultragenyx Pharmaceutical by 3,137.6% during the second quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company’s stock valued at $113,129,000 after buying an additional 3,283,467 shares during the last quarter. denkapparat Operations GmbH purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $230,000. Finally, Nykredit A S purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $154,000. 97.67% of the stock is owned by institutional investors.

Key Headlines Impacting Ultragenyx Pharmaceutical

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

• Positive Sentiment: Ultragenyx reported encouraging 96-week data for GENGLYCOS™ (DTX401) in glycogen storage disease type Ia. Patients achieved an average 61% reduction in daily cornstarch intake while maintaining glycemic control, supporting the commercial and clinical potential of this program. GENGLYCOS trial publication
• Neutral Sentiment: Ultragenyx’s existing commercial business remains a focus for investors as the company evaluates cost reductions and seeks to offset the impact of the failed Angelman program. Analysts continue to recognize longer-term potential in its rare-disease portfolio, although near-term sentiment has deteriorated. Barron’s analysis of Ultragenyx
• Negative Sentiment: The Phase 3 Aspire study of the company’s Angelman syndrome treatment did not achieve its primary endpoint, the change in Bayley-4 cognitive raw score, or its key secondary MDRI endpoint. The failure removes a major anticipated growth driver and raises questions about the value of the program. Ultragenyx Aspire Phase 3 results
• Negative Sentiment: Wells Fargo downgraded Ultragenyx from “overweight” to “equal weight” and set an $18 price target, implying substantial downside from the referenced price. Analyst coverage
• Negative Sentiment: JPMorgan downgraded the stock to “neutral,” while Robert W. Baird and Evercore moved their ratings to “neutral” or “in-line.” Baird cut its target to $16 from $40, and Evercore also set a $16 target, reinforcing the view that the trial failure materially reduced Ultragenyx’s valuation.

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.