JPMorgan Chase & Co. Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $117.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective boosted 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 price objective suggests a potential upside of 200.61% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Wedbush restated 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. HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Canaccord Genuity Group increased their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company lifted their price target on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.79.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE traded up $0.94 on Thursday, hitting $38.92. The stock had a trading volume of 57,567 shares, compared to its average volume of 776,375. The firm has a 50-day moving average of $41.72 and a 200-day moving average of $47.08. Ultragenyx Pharmaceutical has a 52-week low of $36.71 and a 52-week high of $60.37. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -6.14 and a beta of 0.67.

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

Insider Activity

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 967 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $40,710.70. Following the completion of the sale, the chief accounting officer now directly owns 50,265 shares in the company, valued at $2,116,156.50. The trade was a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the transaction, the chief executive officer now owns 2,183,985 shares in the company, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,370 shares of company stock worth $5,751,499 over the last three months. 5.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 493 shares during the last quarter. True Wealth Design LLC purchased a new position in Ultragenyx Pharmaceutical during the third quarter valued at $43,000. Aster Capital Management DIFC Ltd purchased a new position in Ultragenyx Pharmaceutical during the fourth quarter valued at $35,000. Human Investing LLC bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at about $42,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Ultragenyx Pharmaceutical in the third quarter worth about $83,000. 97.67% of the stock is owned by hedge funds and other 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.