JPMorgan Chase & Co. Increases Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target to $80.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective increased by analysts at JPMorgan Chase & Co. from $75.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 211.04% from the stock’s current price.

A number of other research firms have also recently issued reports on RARE. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Ultragenyx Pharmaceutical in a report on Monday, August 10th. Canaccord Genuity Group raised their price objective on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Guggenheim dropped their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Cantor Fitzgerald upped their target price on shares of Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Finally, Morgan Stanley upped their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $25.72 on Tuesday. The business has a fifty day moving average price of $28.59 and a 200 day moving average price of $24.98. Ultragenyx Pharmaceutical has a fifty-two week low of $18.29 and a fifty-two week high of $39.89. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -4.40 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. The company had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The business’s revenue was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.17) earnings per share. On average, equities analysts expect that Ultragenyx Pharmaceutical will post -4.03 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director owned 21,095 shares in the company, valued at $528,429.75. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the sale, the chief financial officer owned 105,689 shares of the company’s stock, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,552 shares of company stock valued at $207,455 over the last 90 days. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several institutional investors have recently modified their holdings of the business. Blue Owl Capital Holdings LP acquired a new position in Ultragenyx Pharmaceutical in the second quarter valued at approximately $6,098,000. Jefferies Financial Group Inc. acquired a new stake in Ultragenyx Pharmaceutical during the 4th quarter worth $10,973,000. BNP Paribas Financial Markets grew its holdings in Ultragenyx Pharmaceutical by 57.6% during the 4th quarter. BNP Paribas Financial Markets now owns 903,050 shares of the biopharmaceutical company’s stock worth $20,770,000 after acquiring an additional 330,031 shares during the period. GW&K Investment Management LLC raised its position in shares of Ultragenyx Pharmaceutical by 19.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company’s stock valued at $31,634,000 after acquiring an additional 225,238 shares during the last quarter. Finally, Eagle Health Investments LP bought a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $29,521,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.