Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $115.00 by Analysts at Piper Sandler

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) had its target price dropped by research analysts at Piper Sandler from $140.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. Piper Sandler's price objective indicates a potential upside of 193.52% from the company's current price.

RARE has been the subject of several other research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Canaccord Genuity Group increased their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. HC Wainwright restated a "buy" rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $91.71.

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Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE traded up $0.29 during mid-day trading on Monday, reaching $39.18. 934,971 shares of the company were exchanged, compared to its average volume of 773,643. Ultragenyx Pharmaceutical has a 1 year low of $35.16 and a 1 year high of $60.37. The firm's 50-day simple moving average is $41.94 and its 200 day simple moving average is $47.62. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -6.18 and a beta of 0.67.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued 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). The business had revenue of $164.88 million for the quarter, compared to analysts' expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. On average, research analysts forecast that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current fiscal year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 1,785 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the transaction, the chief financial officer now owns 106,169 shares in the company, valued at $4,289,227.60. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the sale, the chief accounting officer now directly owns 50,265 shares of the company's stock, valued at $2,116,156.50. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,370 shares of company stock worth $5,751,499. Corporate insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its position in Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 493 shares during the period. True Wealth Design LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth approximately $43,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter worth $35,000. Human Investing LLC acquired a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at $42,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth $83,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

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.