Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Lowered to $102.00 at JPMorgan Chase & Co.

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target cut by 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 firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 117.58% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Barclays decreased their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. HC Wainwright boosted their target price on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.46.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE traded up $0.48 during trading hours on Thursday, reaching $46.88. The company had a trading volume of 64,719 shares, compared to its average volume of 784,299. The firm has a market cap of $4.33 billion, a PE ratio of -7.18 and a beta of 0.58. The business’s 50 day moving average price is $53.80 and its 200-day moving average price is $48.39. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same quarter last year, the business earned ($2.23) earnings per share. The firm’s revenue was up 42.3% on a year-over-year basis. On average, analysts expect that Ultragenyx Pharmaceutical will post -6.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This trade represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,556 shares of company stock worth $1,515,967 in the last ninety days. 5.80% of the stock is owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RARE. Price T Rowe Associates Inc. MD raised its holdings in shares of Ultragenyx Pharmaceutical by 3.5% in the 1st 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 period. Vanguard Group Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 0.3% during the first 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. Frazier Life Sciences Management L.P. purchased a new position in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $17,468,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Ultragenyx Pharmaceutical in the first quarter valued at approximately $691,000. Finally, Bayesian Capital Management LP acquired a new stake in Ultragenyx Pharmaceutical during the 1st quarter worth approximately $714,000. Hedge funds and other institutional investors 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.