Piper Sandler Forecasts Strong Price Appreciation for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price raised by equities research analysts at Piper Sandler from $135.00 to $140.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price would indicate a potential upside of 234.77% from the stock’s current price.

RARE has been the subject of several other research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.29.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE traded down $0.25 during trading on Monday, hitting $41.82. 491,976 shares of the stock were exchanged, compared to its average volume of 1,109,732. 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 $3.86 billion, a price-to-earnings ratio of -6.46 and a beta of 0.58. The company’s fifty day simple moving average is $46.09 and its 200-day simple moving average is $49.63.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping the consensus estimate of ($1.45) by $0.05. The business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. Ultragenyx Pharmaceutical’s revenue was up 42.3% on a year-over-year basis. During the same quarter last year, the company earned ($2.23) EPS. On average, research analysts forecast that Ultragenyx Pharmaceutical will post -6.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was 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 in the company, valued at approximately $92,229,686.55. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $43,000. Values First Advisors Inc. acquired a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $56,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $83,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $93,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $107,000. Institutional investors 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.