Ultragenyx Pharmaceutical (NASDAQ:RARE) Downgraded by Bank of America to “Neutral”

Ultragenyx Pharmaceutical (NASDAQ:RARE) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Thursday, Briefing.com reports.

Several other brokerages have also issued reports on RARE. William Blair lowered shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Thursday. HC Wainwright dropped their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Guggenheim decreased their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, Cantor Fitzgerald dropped their target price on Ultragenyx Pharmaceutical from $103.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.95.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE traded down $11.66 during mid-day trading on Thursday, hitting $14.87. 7,397,249 shares of the company were exchanged, compared to its average volume of 2,247,888. The company has a 50 day moving average of $28.36 and a 200-day moving average of $25.08. Ultragenyx Pharmaceutical has a 1-year low of $13.81 and a 1-year high of $39.89. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -2.53 and a beta of 0.31.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. During the same period in the previous year, the company posted ($1.17) earnings per share. The business’s revenue was up 28.5% on a year-over-year basis. Research analysts anticipate that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the transaction, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president owned 94,462 shares in the company, valued at $2,325,654.44. This trade represents a 1.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings 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 acquiring an additional 1,001 shares during the period. Danske Bank A S acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth about $39,000. Quantbot Technologies LP acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth $48,000. Harbor Investment Advisory LLC purchased a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $52,000. Finally, Parallel Advisors LLC lifted its holdings in Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 1,440 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: 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.