Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $80.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price hoisted by JPMorgan Chase & Co. from $75.00 to $80.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on the stock. Wall Street Zen upgraded shares of Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Wedbush dropped their price target on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Barclays lowered their price objective on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.22.

Ultragenyx Pharmaceutical Trading Down 0.7%

Shares of RARE stock opened at $26.26 on Tuesday. The business’s 50 day moving average is $28.59 and its two-hundred day moving average is $25.03. Ultragenyx Pharmaceutical has a twelve month low of $18.29 and a twelve month high of $39.89. The company has a market capitalization of $2.59 billion, a P/E ratio of -4.50 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The business had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. During the same quarter in the previous year, the company posted ($1.17) earnings per share. The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. As a group, equities analysts predict that Ultragenyx Pharmaceutical will post -3.99 earnings per share for the current fiscal year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the sale, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,552 shares of company stock worth $207,455 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC increased its stake in Ultragenyx Pharmaceutical by 778.4% in the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 1,440 shares in the last quarter. Leonteq Securities AG raised its holdings in Ultragenyx Pharmaceutical by 288.5% during the first quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,333 shares during the last quarter. Versant Capital Management Inc boosted its position in Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares in the last quarter. Danske Bank A S purchased a new stake in Ultragenyx Pharmaceutical during the third quarter worth $39,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Ultragenyx Pharmaceutical by 573.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 1,845 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.