JPMorgan Chase & Co. Issues Positive Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price hoisted by JPMorgan Chase & Co. from $104.00 to $117.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Canaccord Genuity Group raised their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Piper Sandler cut their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.79.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $38.89 on Thursday. The firm has a market capitalization of $3.60 billion, a P/E ratio of -6.13 and a beta of 0.67. Ultragenyx Pharmaceutical has a one year low of $36.71 and a one year high of $60.37. The business has a fifty day moving average of $41.68 and a 200 day moving average of $47.03.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. Analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 2,990 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $42.88, for a total transaction of $128,211.20. Following the completion of the transaction, the executive vice president now directly owns 54,991 shares in the company, valued at approximately $2,358,014.08. This represents a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,370 shares of company stock valued at $5,751,499. 5.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 493 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Ultragenyx Pharmaceutical during the fourth quarter worth $35,000. Human Investing LLC bought a new position in Ultragenyx Pharmaceutical during the fourth quarter valued at $42,000. True Wealth Design LLC bought a new position in Ultragenyx Pharmaceutical during the third quarter valued at $43,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after acquiring an additional 273 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.