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

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective decreased by equities researchers at Piper Sandler from $140.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price suggests a potential upside of 195.86% from the company’s current price.

Other analysts have also recently issued reports about the stock. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. 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. JPMorgan Chase & Co. cut their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Finally, Wedbush reissued a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.71.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE traded down $0.47 during mid-day trading on Monday, reaching $38.87. The company had a trading volume of 102,689 shares, compared to its average volume of 773,808. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -6.15 and a beta of 0.67. The company’s 50 day simple moving average is $42.29 and its 200 day simple moving average is $47.99.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced 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 business 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%. As a group, equities analysts forecast that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the sale, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 106,169 shares of the company’s stock, valued at $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,370 shares of company stock valued at $5,751,499 over the last three months. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock worth $422,167,000 after purchasing an additional 89,389 shares during the period. Alkeon Capital Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after buying an additional 769,884 shares during the period. Invesco Ltd. lifted its position in Ultragenyx Pharmaceutical by 1.5% during the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock valued at $71,509,000 after acquiring an additional 25,487 shares during the period. Alliancebernstein L.P. boosted its stake in Ultragenyx Pharmaceutical by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock worth $68,487,000 after acquiring an additional 81,667 shares in the last quarter. Finally, Baker BROS. Advisors LP grew its holdings in Ultragenyx Pharmaceutical by 7.5% in the third quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock worth $87,553,000 after purchasing an additional 109,567 shares during the period. Institutional investors own 97.67% of the company’s stock.

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.