Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Lowered to $23.00 at Wedbush

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective dropped by equities researchers at Wedbush from $30.00 to $23.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Wedbush’s target price indicates a potential downside of 13.31% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of Ultragenyx Pharmaceutical from an “overweight” rating to a “neutral” rating and set a $36.00 price target for the company. in a report on Thursday. Royal Bank Of Canada raised their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Guggenheim decreased their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. Canaccord Genuity Group dropped their price target on Ultragenyx Pharmaceutical from $83.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Evercore downgraded Ultragenyx Pharmaceutical from an “outperform” rating to an “inline” rating and set a $16.00 price objective for the company. in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.95.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $26.53 on Thursday. The stock has a fifty day moving average price of $28.36 and a two-hundred day moving average price of $25.08. The firm has a market cap of $2.62 billion, a P/E 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.

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 analysts’ consensus estimates of ($1.22) by $0.32. The company 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 quarterly revenue was up 28.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.17) EPS. On average, research analysts predict that Ultragenyx Pharmaceutical will post -3.97 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction that occurred 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 owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This trade represents a 8.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of RARE. BlackRock Inc. purchased a new position in Ultragenyx Pharmaceutical during the second quarter valued at approximately $355,746,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $6,397,000. Deutsche Bank AG acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $5,503,000. Blue Owl Capital Holdings LP acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $6,098,000. Finally, Corient Private Wealth LP purchased a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $4,644,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Trending Headlines about 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.