Ultragenyx Pharmaceutical (NASDAQ:RARE) Given New $117.00 Price Target at JPMorgan Chase & Co.

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective upped by research analysts at JPMorgan Chase & Co. from $104.00 to $117.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 209.36% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. 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.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $92.79.

Ultragenyx Pharmaceutical Trading Down 2.8 %

Shares of RARE stock opened at $37.82 on Thursday. Ultragenyx Pharmaceutical has a 12-month low of $36.71 and a 12-month high of $60.37. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -5.97 and a beta of 0.67. The stock has a 50 day simple moving average of $41.64 and a 200-day simple moving average of $46.90.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) 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 analyst estimates 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, equities analysts forecast that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their position. The sale was disclosed in a legal 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 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 sale, the chief accounting officer now owns 50,265 shares in the company, valued at approximately $2,116,156.50. This trade represents a 1.89 % 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 ninety days. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position 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 valued at $29,000 after purchasing an additional 493 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Ultragenyx Pharmaceutical in the fourth quarter worth about $35,000. Human Investing LLC acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at about $42,000. True Wealth Design LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $43,000. Finally, Van ECK Associates Corp grew its stake 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 purchasing an additional 273 shares during the last quarter. 97.67% of the stock is currently owned by 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.