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

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target decreased by analysts at Piper Sandler from $140.00 to $115.00 in a report released 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 195.86% from the company’s previous close.

RARE has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. Canaccord Genuity Group increased their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, February 14th. Finally, Wedbush reiterated a “neutral” rating and issued a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.71.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded down $0.47 during mid-day trading on Monday, reaching $38.87. The stock had a trading volume of 102,689 shares, compared to its average volume of 773,808. The stock has a market cap of $3.60 billion, a PE ratio of -6.15 and a beta of 0.67. Ultragenyx Pharmaceutical has a 1 year low of $37.02 and a 1 year high of $60.37. The company has a fifty day moving average price of $42.29 and a 200 day moving average price of $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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. As a group, equities research analysts expect that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, insider John Richard Pinion sold 14,439 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total value of $607,881.90. Following the sale, the insider now owns 107,766 shares of the company’s stock, valued at approximately $4,536,948.60. This trade represents a 11.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Emil D. Kakkis sold 73,434 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $3,091,571.40. Following the transaction, the chief executive officer now owns 641,731 shares of the company’s stock, valued at $27,016,875.10. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,370 shares of company stock worth $5,751,499. Insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently bought and sold shares of RARE. Algert Global LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 46.9% in the third quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock worth $4,105,000 after buying an additional 23,580 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $2,666,000. Principal Financial Group Inc. grew its position 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 in 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 lifted its position in Ultragenyx Pharmaceutical by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock worth $928,000 after buying an additional 294 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

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.