Piper Sandler Cuts Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $115.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective trimmed by Piper Sandler from $140.00 to $115.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

RARE has been the subject of several other research reports. Wedbush reissued a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Canaccord Genuity Group increased their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, HC Wainwright reissued a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.71.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $39.68 on Monday. The company has a 50-day simple moving average of $42.04 and a 200-day simple moving average of $47.69. The firm has a market capitalization of $3.67 billion, a P/E ratio of -6.26 and a beta of 0.67. Ultragenyx Pharmaceutical has a 52 week low of $37.02 and a 52 week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The company had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. As a group, equities analysts forecast that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the sale, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the transaction, the executive vice president now directly owns 265,238 shares in the company, valued at approximately $11,166,519.80. The trade was a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 136,370 shares of company stock valued at $5,751,499 over the last three months. 5.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in Ultragenyx Pharmaceutical by 0.3% in 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 acquiring an additional 268 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth $5,505,000. Mackenzie Financial Corp boosted its position in shares of Ultragenyx Pharmaceutical by 275.6% during the fourth quarter. Mackenzie Financial Corp now owns 16,115 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 11,825 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth $82,000. Finally, Frazier Life Sciences Management L.P. boosted its position in shares of Ultragenyx Pharmaceutical by 3.9% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 658,715 shares of the biopharmaceutical company’s stock worth $27,712,000 after purchasing an additional 25,000 shares in the last quarter. 97.67% of the stock is owned by 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.