Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $117.00

Ultragenyx Pharmaceutical (NASDAQ:RARE - Free Report) had its price objective increased by JPMorgan Chase & Co. from $104.00 to $117.00 in a research report sent to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company's stock.

A number of other analysts also recently issued reports on the company. Piper Sandler cut their price objective on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a report on Friday, December 20th. Finally, Wedbush restated a "neutral" rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. One equities research 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.79.

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Ultragenyx Pharmaceutical Price Performance

Shares of RARE traded down $1.70 during mid-day trading on Thursday, reaching $36.13. The stock had a trading volume of 302,563 shares, compared to its average volume of 789,837. The business's fifty day moving average is $41.64 and its 200 day moving average is $46.77. Ultragenyx Pharmaceutical has a 52-week low of $35.62 and a 52-week high of $60.37. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -5.69 and a beta of 0.67.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced 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 return on equity of 193.80% and a negative net margin of 101.60%. The firm had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 25,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total value of $1,062,000.00. Following the sale, the chief executive officer now directly owns 2,158,985 shares in the company, valued at $91,713,682.80. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Theodore Alan Huizenga sold 967 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the sale, the chief accounting officer now directly owns 50,265 shares of the company's stock, valued at $2,116,156.50. This trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock valued at $422,167,000 after purchasing an additional 89,389 shares in the last quarter. Alkeon Capital Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company's stock valued at $167,301,000 after buying an additional 769,884 shares in the last quarter. Invesco Ltd. grew its position in shares of Ultragenyx Pharmaceutical by 1.5% in the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock valued at $71,509,000 after buying an additional 25,487 shares during the last quarter. Alliancebernstein L.P. lifted its position in Ultragenyx Pharmaceutical by 5.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company's stock valued at $68,487,000 after acquiring an additional 81,667 shares during the last quarter. Finally, Baker BROS. Advisors LP boosted its stake in Ultragenyx Pharmaceutical by 7.5% in the third quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company's stock valued at $87,553,000 after acquiring an additional 109,567 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

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.