Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) had its target price decreased by stock analysts at JPMorgan Chase & Co. from $105.00 to $102.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 115.92% from the company’s previous close.
RARE has been the subject of a number of other research reports. The Goldman Sachs Group increased their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. HC Wainwright increased their price target on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.46.
Read Our Latest Analysis on RARE
Ultragenyx Pharmaceutical Price Performance
Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Free Report) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The firm 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%. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period last year, the firm posted ($2.23) earnings per share. On average, analysts anticipate that Ultragenyx Pharmaceutical will post -6.21 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,556 shares of company stock valued at $1,515,967 over the last quarter. 5.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Ultragenyx Pharmaceutical
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock worth $406,203,000 after purchasing an additional 26,575 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Ultragenyx Pharmaceutical by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after buying an additional 120,175 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 34.3% in the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after acquiring an additional 769,884 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after acquiring an additional 168,345 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after acquiring an additional 942,529 shares during the last quarter. 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.
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