Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $115.00 by Analysts at Piper Sandler

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target reduced by Piper Sandler from $140.00 to $115.00 in a report published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Wedbush reaffirmed 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $91.71.

Ultragenyx Pharmaceutical Stock Up 2.1 %

Shares of NASDAQ RARE opened at $39.68 on Monday. The company’s fifty day moving average is $42.04 and its 200-day moving average is $47.69. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -6.26 and a beta of 0.67. Ultragenyx Pharmaceutical has a twelve month low of $37.02 and a twelve month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. On average, research analysts anticipate that Ultragenyx Pharmaceutical will post -5.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total value 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 approximately $92,229,686.55. This represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas Richard Kassberg sold 6,028 shares of the company’s stock in a transaction dated 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 owns 265,238 shares in the company, valued at approximately $11,166,519.80. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,370 shares of company stock valued at $5,751,499. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RARE. California State Teachers Retirement System grew its position in shares of Ultragenyx Pharmaceutical by 0.3% during the 4th quarter. California State Teachers Retirement System now owns 78,051 shares of the biopharmaceutical company’s stock worth $3,284,000 after purchasing an additional 268 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Ultragenyx Pharmaceutical by 18.4% during the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 273 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Ultragenyx Pharmaceutical by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 294 shares in the last quarter. Motley Fool Asset Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 0.3% during the 3rd quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock worth $8,005,000 after purchasing an additional 360 shares in the last quarter. Finally, BOKF NA grew its position in shares of Ultragenyx Pharmaceutical by 5.0% during the 4th quarter. BOKF NA now owns 7,976 shares of the biopharmaceutical company’s stock worth $336,000 after purchasing an additional 382 shares in the last quarter. Institutional investors and hedge funds 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.