Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Cut to $115.00 by Analysts at Piper Sandler

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective decreased by Piper Sandler from $140.00 to $115.00 in a research note published on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on RARE. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Wells Fargo & Company raised their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. HC Wainwright restated a “buy” rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. JPMorgan Chase & Co. reduced their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Finally, Canaccord Genuity Group raised their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. 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, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $91.71.

Ultragenyx Pharmaceutical Trading Up 0.8 %

Shares of Ultragenyx Pharmaceutical stock opened at $39.64 on Monday. The firm has a market capitalization of $3.67 billion, a P/E ratio of -6.25 and a beta of 0.67. The business has a fifty day simple moving average of $42.23 and a two-hundred day simple moving average of $47.87. Ultragenyx Pharmaceutical has a 12 month low of $37.02 and a 12 month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The firm had revenue of $164.88 million for the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. Analysts predict that Ultragenyx Pharmaceutical will post -5.18 earnings per share for the current year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the transaction, the chief financial officer now directly owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares in the company, valued at $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,370 shares of company stock valued at $5,751,499. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock worth $422,167,000 after purchasing an additional 89,389 shares during the last quarter. Alkeon Capital Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 34.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after buying an additional 769,884 shares in the last quarter. Invesco Ltd. lifted its position in shares of Ultragenyx Pharmaceutical by 1.5% during the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock valued at $71,509,000 after buying an additional 25,487 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Ultragenyx Pharmaceutical by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock valued at $68,487,000 after buying an additional 81,667 shares in the last quarter. Finally, Baker BROS. Advisors LP lifted its position in shares of Ultragenyx Pharmaceutical by 7.5% during the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after buying an additional 109,567 shares in 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.