Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target upped by research analysts at JPMorgan Chase & Co. from $104.00 to $117.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 209.36% from the stock’s current price.

RARE has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Wells Fargo & Company raised their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, Wedbush reiterated a “neutral” rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.79.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE opened at $37.82 on Thursday. The stock’s fifty day moving average price is $41.64 and its 200 day moving average price is $46.90. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -5.97 and a beta of 0.67. Ultragenyx Pharmaceutical has a 1 year low of $36.71 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share 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 business had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. Research analysts expect that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the transaction, the chief financial officer now directly owns 106,169 shares in the company, valued at $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 73,434 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $3,091,571.40. Following the completion of the transaction, the chief executive officer now directly owns 641,731 shares in the company, valued at $27,016,875.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 136,370 shares of company stock valued at $5,751,499. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently bought and sold shares of the stock. Bamco Inc. NY purchased a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at $2,666,000. Principal Financial Group Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 740.0% in the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock valued at $4,802,000 after buying an additional 76,150 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth about $1,773,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock worth $928,000 after buying an additional 294 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in Ultragenyx Pharmaceutical by 193.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 19,151 shares of the biopharmaceutical company’s stock valued at $1,064,000 after acquiring an additional 12,617 shares during 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.