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

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

Other analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Wells Fargo & Company increased 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. Piper Sandler lowered their price target on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Canaccord Genuity Group upped their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $95.00 target price 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.79.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $38.89 on Thursday. The firm has a 50 day simple moving average of $41.68 and a two-hundred day simple moving average of $47.03. The stock has a market cap of $3.60 billion, a PE 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.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. On average, research analysts expect that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 967 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $40,710.70. Following the transaction, the chief accounting officer now owns 50,265 shares in the company, valued at approximately $2,116,156.50. This represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Howard Horn sold 1,785 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,370 shares of company stock valued at $5,751,499. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in Ultragenyx Pharmaceutical by 0.3% during the fourth quarter. California State Teachers Retirement System now owns 78,051 shares of the biopharmaceutical company’s stock valued at $3,284,000 after buying an additional 268 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Ultragenyx Pharmaceutical by 18.4% during the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 273 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of 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 worth $928,000 after purchasing an additional 294 shares during the last quarter. Motley Fool Asset Management LLC boosted its stake in Ultragenyx Pharmaceutical by 0.3% in the 3rd quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock worth $8,005,000 after purchasing an additional 360 shares in the last quarter. Finally, BOKF NA boosted its stake in Ultragenyx Pharmaceutical by 5.0% in the 4th quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company’s stock worth $336,000 after purchasing an additional 382 shares in 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.