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

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target upped by analysts at Piper Sandler from $135.00 to $140.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price target indicates a potential upside of 234.77% from the company’s previous close.

Several other research analysts have also issued reports on RARE. 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 report on Thursday, November 21st. TD Cowen raised their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. HC Wainwright reiterated a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Finally, Wells Fargo & Company increased their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $92.29.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE traded down $0.25 during trading hours on Monday, reaching $41.82. 491,976 shares of the company were exchanged, compared to its average volume of 1,109,732. The business has a 50 day moving average of $46.09 and a 200 day moving average of $49.63. 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 P/E ratio of -6.46 and a beta of 0.58.

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

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 8,273 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the sale, the chief executive officer now owns 2,195,712 shares of the company’s stock, valued at approximately $109,785,600. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RARE. Rhumbline Advisers grew its stake in Ultragenyx Pharmaceutical by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 96,710 shares of the biopharmaceutical company’s stock valued at $3,975,000 after buying an additional 5,047 shares in the last quarter. BOKF NA grew its position in Ultragenyx Pharmaceutical by 23.5% in the second quarter. BOKF NA now owns 8,316 shares of the biopharmaceutical company’s stock worth $342,000 after acquiring an additional 1,580 shares in the last quarter. Angeles Investment Advisors LLC grew its position in Ultragenyx Pharmaceutical by 49.3% in the second quarter. Angeles Investment Advisors LLC now owns 6,640 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 2,193 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Ultragenyx Pharmaceutical by 38.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 370,247 shares of the biopharmaceutical company’s stock worth $15,217,000 after acquiring an additional 103,280 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Ultragenyx Pharmaceutical by 13.4% in the second quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 696 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other 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.