Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Expected to Rise, Piper Sandler Analyst Says

Ultragenyx Pharmaceutical (NASDAQ:RARE - Free Report) had its price objective lifted by Piper Sandler from $135.00 to $140.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company's stock.

Several other brokerages have also weighed in on RARE. JPMorgan Chase & Co. lowered their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, November 21st. Wedbush reissued a "neutral" rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. TD Cowen increased their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, October 21st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.29.

Ultragenyx Pharmaceutical Trading Up 2.6 %

RARE stock traded up $1.09 during midday trading on Monday, hitting $43.16. 2,179,772 shares of the company's stock were exchanged, compared to its average volume of 1,387,796. The firm has a 50 day moving average price of $46.09 and a 200-day moving average price of $49.63. Ultragenyx Pharmaceutical has a 12-month low of $37.02 and a 12-month high of $60.37. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -6.67 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The business's revenue was up 42.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.23) earnings per share. On average, sell-side analysts forecast that Ultragenyx Pharmaceutical will post -6.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RARE. Wealth Enhancement Advisory Services LLC lifted its holdings in Ultragenyx Pharmaceutical by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock valued at $928,000 after acquiring an additional 294 shares during the last quarter. Motley Fool Asset Management LLC lifted its stake in Ultragenyx Pharmaceutical by 0.3% during the third quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company's stock valued at $8,005,000 after purchasing an additional 360 shares during the last quarter. KBC Group NV boosted its holdings in Ultragenyx Pharmaceutical by 24.5% during the third quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company's stock worth $143,000 after buying an additional 506 shares in the last quarter. M&T Bank Corp grew its position in Ultragenyx Pharmaceutical by 8.1% in the third quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company's stock worth $388,000 after buying an additional 525 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Ultragenyx Pharmaceutical by 13.4% in the second quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company's stock valued at $242,000 after buying an additional 696 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

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.