Ultragenyx Downgraded, Price Targets Cut, September 3 2026
Ten analyst actions landed on Thursday. Ultragenyx ($RARE) drew five of them after a failed trial readout. Snowflake ($SNOW) drew three and CrowdStrike ($CRWD) two.
Ultragenyx Books $214 Million In Quarterly Revenue And Draws Five Analyst Actions
Ultragenyx develops treatments for rare genetic diseases. Crysvita, for X-linked hypophosphatemia, is its largest product. Dojolvi, Evkeeza and Mepsevii are its other three revenue lines. Crysvita alone carries roughly seven of every ten dollars the company books. Revenue over the last twelve months was $717 million. Ultragenyx has not yet turned a profit.
What The Aspire Study Showed
Ultragenyx released Phase 3 results for apazunersen on 2 September, after the close. The drug, also called GTX-102, was tested in Angelman syndrome. Aspire enrolled about 120 children aged 4 to 17. Each had a genetically confirmed UBE3A deletion. They were randomised one to one against a sham comparator, over a 48 week efficacy period. The primary endpoint was the change from baseline in the Bayley-4 cognitive raw score. It was not met. No efficacy difference appeared between the treated group and the control group.
The key secondary endpoint failed as well. That was net response on the Multidomain Responder Index, which combines five domains. They are cognition, receptive communication, behaviour, gross motor function and sleep. No difference showed on any of them.
Safety was the one thing that held. It matched the earlier Phase 1/2 data, with no new signals.
Emil Kakkis, the chief executive, said “we are disappointed by the Aspire result.” Ultragenyx said it will decide what happens to the apazunersen programme in light of the outcome, and that it will define and implement significant expense reductions. Kakkis named the commercial business as the offset, citing the recent approval of GENGLYCOS in glycogen storage disease type Ia and a possible approval of UX111 in Sanfilippo syndrome, and said the company is still working toward profitability in 2027.
Ultragenyx’s Finances Going In
Ultragenyx held $436 million in cash and marketable securities on 30 June, against $737 million at the end of 2025. Its second quarter loss was $92 million, or $0.90 a share.
Revenue in the quarter reported on 5 August was $214 million, 28 percent above the same quarter of 2025. Crysvita brought in $156 million of that, Dojolvi $27 million, Evkeeza $21 million and Mepsevii $10 million. The company reaffirmed full year guidance of $730 million to $760 million and said it remained on a path to profitability in 2027, helped by cuts of at least 15 percent to research and development and to selling, general and administrative spending in 2027 against 2026.
GENGLYCOS is approved for glycogen storage disease type Ia. UX111 is under review at the FDA for Sanfilippo syndrome type A.
Ultragenyx’s Stock Price Target News Today
Three desks cut their ratings on Thursday. Joel Beatty of Baird went to Neutral from Outperform and took his target from $40 to $16. Luca Issi of RBC Capital moved to Sector Perform from Outperform at $19. Benjamin Burnett of Wells Fargo went to Equal Weight from Overweight, cutting from $50 to $18.
Two others held their ratings and cut their targets. Kristen Kluska of Cantor Fitzgerald stayed at Overweight and lowered hers from $103 to $33. Raghuram Selvaraju of HC Wainwright kept Buy and reduced his from $50 to $25.
Ultragenyx’s Analyst Coverage
AnaChart records 18 analysts on Ultragenyx over the last twelve months. Kluska set her previous target on the stock on 20 August, two weeks before Thursday’s cut. Across the 52 stocks AnaChart tracks her on, she has 583 price targets and ratings and has met 36.19 percent of them. She takes an average of 118 days to meet one.
Snowflake Books $1.55 Billion In Quarterly Revenue And Draws Three Analyst Actions
Snowflake sells a cloud data platform. Customers store data on it and run queries and applications against that data. Most of the revenue is consumption based. Product subscriptions are 96 percent of it. Professional services are the rest. Revenue over the last twelve months was $5.43 billion.
What Snowflake’s Fiscal Second Quarter Showed
Revenue in the quarter reported on 2 September was $1.547 billion. Product revenue was $1.492 billion, 37 percent above the same quarter a year earlier. The net revenue retention rate was 126 percent. Remaining performance obligations reached $9.00 billion, 30 percent higher.
Customers with more than $1 million of trailing twelve month product revenue reached 828, which is 27 percent more than a year earlier. Snowflake counts 829 of the Forbes Global 2000 as customers. The non-GAAP operating margin was 15.3 percent and free cash flow was $83.8 million.
Sridhar Ramaswamy, the chief executive, said “AI continues to compound our advantages, creating a flywheel effect across the business.”
Guidance for the current quarter runs to product revenue of $1.588 billion to $1.593 billion. Snowflake raised its full year product revenue target to $6.070 billion from $5.840 billion. It also raised the full year non-GAAP operating margin to 14.5 percent from 13.5 percent.
Snowflake’s Stock Price Target News Today
All three desks raised their numbers on Thursday and none changed a rating. Mike Cikos of Needham kept Buy and lifted his target from $330 to $450. Thomas Blakey of Cantor Fitzgerald held Overweight and pushed his from $405 to $430. Gray Powell of BTIG stayed at Buy and raised his from $340 to $424.
Snowflake’s Analyst Coverage
AnaChart records 31 analysts on Snowflake over the last twelve months. Cikos has met 63.97 percent of his price targets across the 37 stocks AnaChart tracks him on. He takes an average of 115 days to meet one.
CrowdStrike Books $1.47 Billion In Quarterly Revenue And Draws Two Analyst Actions
CrowdStrike sells cloud security. Its Falcon platform runs as a set of modules customers subscribe to. What a customer pays turns on how many it takes. Of its subscription customers, 51 percent run six or more modules. That drops to 35 percent at seven and 26 percent at eight. The other lever is Falcon Flex, which George Kurtz called “a flexible subscription model” for consolidating modules under one agreement. Accounts on it hold $2.29 billion of the recurring revenue. Another 935 joined in the quarter. Subscriptions are 95 percent of what CrowdStrike books. Revenue over the last twelve months was $5.40 billion.
What CrowdStrike Announced On Wednesday
CrowdStrike made three product and partnership announcements on Wednesday. It expanded a strategic partnership with Zscaler. It launched Falcon Guardian, an agentic security operations product. It also widened an existing collaboration with OpenAI.
What CrowdStrike’s Fiscal Second Quarter Showed
CrowdStrike reported its most recent quarter on 26 August. Revenue was $1.47 billion, 26 percent above the same quarter a year earlier. Subscription revenue was $1.40 billion of that. Annual recurring revenue ended at $5.84 billion, 25 percent higher, and net new ARR was $332.8 million. Non-GAAP operating income was $371.6 million and non-GAAP earnings were $0.31 a share. Free cash flow was $377.4 million.
George Kurtz, the chief executive, called that quarter “the best quarter in CrowdStrike’s history.” Guidance for the full year runs to revenue of $5.99 billion to $6.01 billion and ending ARR of $6.60 billion to $6.61 billion.
CrowdStrike’s Stock Price Target News Today
Both desks reiterated on Thursday without moving a number. Mike Cikos of Needham kept Buy at $250. Gray Powell of BTIG kept Buy at $245.
CrowdStrike’s Analyst Coverage
AnaChart records 42 analysts on CrowdStrike over the last twelve months.
Questions Readers Ask About These Numbers
How many analyst actions landed on these three names on Thursday? Ten in all. Ultragenyx drew five, from Baird, RBC Capital, Wells Fargo, Cantor Fitzgerald and HC Wainwright. Snowflake drew three, from Needham, Cantor Fitzgerald and BTIG. CrowdStrike drew two, from Needham and BTIG.
Why did five analysts act on Ultragenyx at once? The company released Phase 3 Aspire results for apazunersen on 2 September. The study missed its primary endpoint and its key secondary endpoint. Three of the five cut their ratings and the other two cut only their targets.
Which analysts acted on more than one of these names? Mike Cikos of Needham and Gray Powell of BTIG. Each moved on Snowflake and reiterated on CrowdStrike.
The previous session’s actions are in the 2 September update. The analyst price target dataset holds the underlying record for these analysts and tickers.
