Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Lowered to $102.00 at JPMorgan Chase & Co.

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price target trimmed by JPMorgan Chase & Co. from $105.00 to $102.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on RARE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. TD Cowen upped their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Barclays cut their target price on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Wedbush upped their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.46.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock traded up $0.23 during mid-day trading on Thursday, reaching $46.25. 20,161 shares of the company were exchanged, compared to its average volume of 783,068. The business has a fifty day moving average of $53.37 and a 200 day moving average of $48.36. The firm has a market cap of $4.27 billion, a P/E ratio of -7.11 and a beta of 0.58. Ultragenyx Pharmaceutical has a 12-month low of $37.02 and a 12-month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The company had revenue of $139.49 million during the quarter, compared to analyst estimates 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 in the prior year, the business earned ($2.23) earnings per share. Sell-side analysts predict that Ultragenyx Pharmaceutical will post -6.21 EPS for the current year.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,556 shares of company stock valued at $1,515,967 in the last ninety days. 5.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RARE. UMB Bank n.a. increased its holdings in shares of Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 352 shares during the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 0.3% during the 3rd quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company’s stock worth $8,005,000 after buying an additional 360 shares during the last quarter. US Bancorp DE increased its holdings in shares of Ultragenyx Pharmaceutical by 5.8% during the 1st quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 390 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Ultragenyx Pharmaceutical by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock worth $853,000 after buying an additional 434 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 8.7% during the 1st quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock worth $284,000 after buying an additional 486 shares during the last quarter. 97.67% of the stock is 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.