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

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price raised by research analysts at 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. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 200.61% from the company’s previous close.

Other research analysts have also issued reports about the company. Canaccord Genuity Group boosted their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wedbush reissued 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. Wells Fargo & Company lifted their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock 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 on the stock in a report on Monday, March 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.79.

Ultragenyx Pharmaceutical Stock Performance

RARE traded up $0.94 during midday trading on Thursday, reaching $38.92. 57,567 shares of the company were exchanged, compared to its average volume of 776,375. The stock has a market capitalization of $3.60 billion, a P/E ratio of -6.14 and a beta of 0.67. The stock’s 50-day simple moving average is $41.72 and its 200 day simple moving average is $47.08. Ultragenyx Pharmaceutical has a one year low of $36.71 and a one year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results 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). The firm had revenue of $164.88 million for the quarter, compared to analyst estimates of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. On average, research analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 of the company’s stock, valued at approximately $4,289,227.60. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the transaction, the chief accounting officer now owns 50,265 shares in the company, valued at approximately $2,116,156.50. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,370 shares of company stock worth $5,751,499 in the last quarter. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 493 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Ultragenyx Pharmaceutical in the 4th quarter valued at $35,000. Human Investing LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $42,000. True Wealth Design LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at $43,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

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.