Piper Sandler Lowers Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $115.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price dropped by equities research analysts at Piper Sandler from $140.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price target would suggest a potential upside of 195.93% from the company’s previous close.

Several other research firms also recently weighed in on RARE. Wells Fargo & Company boosted their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Wedbush restated 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. JPMorgan Chase & Co. lowered their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Finally, Canaccord Genuity Group upped their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.71.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $38.86 on Monday. The business’s 50-day simple moving average is $42.12 and its two-hundred day simple moving average is $47.74. The company has a market cap of $3.59 billion, a PE ratio of -6.13 and a beta of 0.67. Ultragenyx Pharmaceutical has a fifty-two week low of $37.02 and a fifty-two week high of $60.37.

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

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total transaction of $72,114.00. Following the completion of the transaction, the chief financial officer now owns 106,169 shares of the company’s stock, valued at $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the transaction, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,370 shares of company stock worth $5,751,499. 5.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently made changes to their positions in the company. Algert Global LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 46.9% during the third quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock valued at $4,105,000 after acquiring an additional 23,580 shares during the last quarter. Bamco Inc. NY acquired a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at approximately $2,666,000. Principal Financial Group Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 740.0% in the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock valued at $4,802,000 after purchasing an additional 76,150 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $1,773,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 294 shares during 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.