Ultragenyx Pharmaceutical (NASDAQ:RARE) Cut to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) from an outperform rating to a neutral rating in a research note published on Thursday, MarketBeat.com reports. They currently have $16.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $40.00.

RARE has been the subject of a number of other reports. Morgan Stanley increased their price objective on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Citigroup upped their price target on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Cantor Fitzgerald raised their price target on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Royal Bank Of Canada lifted their price objective on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. downgraded shares of Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $80.00 to $36.00 in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.63.

Ultragenyx Pharmaceutical Trading Up 3.0%

Shares of NASDAQ RARE opened at $15.30 on Thursday. The company has a fifty day moving average price of $27.76 and a 200 day moving average price of $24.97. The firm has a market cap of $1.51 billion, a PE ratio of -2.62 and a beta of 0.31. Ultragenyx Pharmaceutical has a 1-year low of $13.81 and a 1-year high of $39.89.

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

Insider Activity at Ultragenyx Pharmaceutical

In related news, Director Corsee Sanders sold 2,000 shares of the firm’s 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 completion of the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Karah Parschauer sold 1,899 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 94,462 shares in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Versant Capital Management Inc raised 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 purchasing an additional 1,001 shares during the period. Danske Bank A S bought a new position in Ultragenyx Pharmaceutical during the third quarter worth about $39,000. Quantbot Technologies LP bought a new position in Ultragenyx Pharmaceutical during the second quarter worth about $48,000. Harbor Investment Advisory LLC acquired a new position in Ultragenyx Pharmaceutical during the second quarter worth approximately $52,000. Finally, Parallel Advisors LLC raised its stake in Ultragenyx Pharmaceutical by 778.4% in 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 during the period. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical News Roundup

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.