Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $20.00 Price Target at Morgan Stanley

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target boosted by equities research analysts at Morgan Stanley from $18.00 to $20.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 35.04% from the stock’s previous close.

A number of other brokerages have also recently weighed in on RARE. William Blair cut shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. Wedbush cut their price objective on Ultragenyx Pharmaceutical from $30.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, September 3rd. JPMorgan Chase & Co. lowered Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $36.00 in a research note on Thursday, September 3rd. Weiss Ratings upgraded Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Finally, TD Cowen cut their target price on Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.42.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE traded up $0.31 on Friday, reaching $14.81. The company’s stock had a trading volume of 4,917,631 shares, compared to its average volume of 2,608,357. Ultragenyx Pharmaceutical has a twelve month low of $12.73 and a twelve month high of $39.89. The firm’s 50 day moving average is $24.26 and its two-hundred day moving average is $24.49. The stock has a market cap of $1.46 billion, a PE ratio of -2.53 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (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 company had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same quarter in the previous year, the company posted ($1.17) EPS. The business’s revenue was up 28.5% compared to the same quarter last year. Equities research analysts anticipate that Ultragenyx Pharmaceutical will post -3.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth about $311,000. IFP Advisors Inc increased its holdings in shares of Ultragenyx Pharmaceutical by 191.7% in the 2nd quarter. IFP Advisors Inc now owns 2,313 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 1,520 shares during the period. Allworth Financial LP increased its holdings in shares of Ultragenyx Pharmaceutical by 130.9% in the 2nd quarter. Allworth Financial LP now owns 4,699 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 2,664 shares during the period. Nykredit A S purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $154,000. Finally, Corient Private Wealth LP lifted its position in shares of Ultragenyx Pharmaceutical by 7.3% in the second 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 in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Key Stories Impacting Ultragenyx Pharmaceutical

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

• Positive Sentiment: First FDA-approved Sanfilippo Type A treatment: FAYUVI is the first approved therapy for this fatal, ultra-rare neurodegenerative disease, creating a potentially significant new commercial opportunity for Ultragenyx. The company expects shipments to qualified treatment centers within 30–60 days. Reuters FDA approval article
• Positive Sentiment: Clinical and strategic benefits: Approval was supported by durable follow-up data, including an improvement versus natural history on cognitive measures. FAYUVI is Ultragenyx’s second gene therapy approval and sixth FDA approval; the company also received a Priority Review Voucher, which could accelerate a future drug candidate. Ultragenyx FAYUVI approval release
• Positive Sentiment: Analyst optimism increased: Citigroup raised its target to $32 and Canaccord Genuity and Cantor Fitzgerald each raised targets to $39. All three firms carry bullish ratings, implying substantial upside based on the stock’s recent trading level. Analyst price target changes
• Neutral Sentiment: Commercial execution will be important: FAYUVI’s roughly $3.95 million reported price highlights its revenue potential, but actual sales will depend on identifying eligible patients, insurance coverage, reimbursement, treatment-center capacity and manufacturing execution.
• Negative Sentiment: Safety and launch risks remain: FAYUVI carries warnings involving liver toxicity, low platelet counts, infusion reactions, possible thrombotic microangiopathy and malignancy risk. Long-term safety data and real-world adoption remain key uncertainties.
• Negative Sentiment: Overhangs persist: Recent coverage highlighted the impact of a failed Angelman syndrome trial, while Pomerantz announced an investigation on behalf of investors. Insider disclosures also showed selling rather than buying, which may temper sentiment.

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’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.