Bank of America has revised its price target for Ultragenyx Pharmaceutical Inc. (RARE, Financial), reducing it from $83 to $80, while maintaining its Buy rating on the stock. This update comes as part of the firm's broader review of small to mid-cap biotechnology companies ahead of their first-quarter earnings reports.
The decision to adjust the price target is based on updated financial models reflecting the current market conditions and anticipated performance in the biotechnology sector. Despite the slight decrease, the continued Buy rating indicates BofA's confidence in Ultragenyx's potential future growth and value.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Ultragenyx Pharmaceutical Inc (RARE, Financial) is $90.47 with a high estimate of $140.00 and a low estimate of $39.00. The average target implies an upside of 153.50% from the current price of $35.69. More detailed estimate data can be found on the Ultragenyx Pharmaceutical Inc (RARE) Forecast page.
Based on the consensus recommendation from 20 brokerage firms, Ultragenyx Pharmaceutical Inc's (RARE, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Ultragenyx Pharmaceutical Inc (RARE, Financial) in one year is $61.61, suggesting a upside of 72.63% from the current price of $35.69. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Ultragenyx Pharmaceutical Inc (RARE) Summary page.
