Why Is ULTRAGENYX PHARMACEU (RARE) Stock Down Today?
By the Top Tier Newswire AI Desk · September 3, 2026 at 9:31 AM ET · reviewed against 35 wire stories
ULTRAGENYX PHARMACEU (RARE) is down -47.08% in the latest session. Our newswire has captured 35 stories on RARE across 12 sources in the last 36 hours, with AI sentiment reading bearish (avg 32/100).
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Why RARE stock is down today
RARE stock is down 47.08% as of the latest trade at $14.04. The steep decline follows the announcement of a failed Phase 3 trial for Apazunersen in Angelman syndrome, which triggered a wave of price target cuts from analysts. The stock opened with a -45.4% gap down from the prior close, signaling immediate investor concern.
What Happened
Ultragenyx Pharmaceuticals reported that its Phase 3 ASPIRE trial for Apazunersen did not meet its primary or key secondary endpoints. This outcome led to a series of analyst actions, including Jefferies lowering its price target from $77 to $28, TD Cowen from $49 to $18, and Cantor Fitzgerald from $103 to $33. Wedbush also cut its target to $23 from $30. The drug trial failure has forced the company to reassess its strategy, with Barron's noting a focus on cost-cutting and the commercial business. Recent insider transactions show multiple sales by executives, including CFO Howard Horn and EVP Karah Herdman, totaling $417K in the last 90 days.
What The Data Shows
The stock opened at $14.48 and traded as low as $13.80, with volume reaching 3.1 million shares, 1.4 times the 3-month average. The market cap is $2.5 billion, with an unprofitable EPS TTM of -5.83 and a net margin of -81.7%. The stock has traded between $18.29 and $39.89 over the past 52 weeks. Over the last 8 sessions, the stock moved up slightly by 0.2% from $25.72 to $25.78. Social chatter has been minimal, with only one post in the last 24 hours and one in the last 7 days.
What To Watch
Investors should monitor the company's next steps in response to the trial failure. No earnings date is provided, but coverage breadth remains high with 35 stories from 12 sources in the last 36 hours. Analyst actions and any further updates on the drug program will be key.
AI-assisted analysis composed exclusively from headlines and data on the Top Tier newswire. Public view is delayed 4 hours from real time. Not financial advice.
Canaccord cuts Ultragenyx stock price target on trial failure
Canaccord cuts Ultragenyx stock price target on trial failure
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