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

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective trimmed by JPMorgan Chase & Co. from $105.00 to $102.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Other equities analysts have also issued research reports about the company. HC Wainwright increased their target price on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Barclays cut their target price on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. The Goldman Sachs Group increased their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.46.

Ultragenyx Pharmaceutical Stock Up 2.7 %

Shares of RARE opened at $47.24 on Thursday. Ultragenyx Pharmaceutical has a 12-month low of $37.02 and a 12-month high of $60.37. The firm has a market capitalization of $4.36 billion, a PE ratio of -7.30 and a beta of 0.58. The stock’s fifty day simple moving average is $53.14 and its 200-day simple moving average is $48.39.

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

Insider Buying and Selling

In related news, 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 completion of the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at approximately $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,556 shares of company stock worth $1,515,967. 5.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RARE. nVerses Capital LLC bought a new position in Ultragenyx Pharmaceutical in the second quarter valued at approximately $33,000. UMB Bank n.a. grew its stake in Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 352 shares in the last quarter. True Wealth Design LLC bought a new position in Ultragenyx Pharmaceutical in the third quarter valued at approximately $43,000. Values First Advisors Inc. bought a new position in Ultragenyx Pharmaceutical in the third quarter valued at approximately $56,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $93,000. 97.67% of the stock is currently owned by 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.