JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price raised by equities researchers at JPMorgan Chase & Co. from $75.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 211.04% from the stock’s previous close.

Several other equities research analysts have also weighed in on RARE. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Wedbush lowered their price objective on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Royal Bank Of Canada boosted their target price on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $25.72 on Tuesday. The stock has a market cap of $2.54 billion, a PE ratio of -4.40 and a beta of 0.35. The stock has a 50-day moving average of $28.59 and a 200-day moving average of $24.98. Ultragenyx Pharmaceutical has a one year low of $18.29 and a one year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The business had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. During the same quarter last year, the firm earned ($1.17) EPS. Ultragenyx Pharmaceutical’s quarterly revenue was up 28.5% compared to the same quarter last year. As a group, research analysts anticipate that Ultragenyx Pharmaceutical will post -4.03 earnings per share for the current year.

Insider Activity

In other news, CFO Howard Horn sold 4,653 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the completion of the sale, the chief financial officer owned 105,689 shares of the company’s stock, valued at $2,512,227.53. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the sale, the director owned 21,095 shares in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,552 shares of company stock worth $207,455 over the last quarter. 5.20% of the stock is currently owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its holdings in shares of Ultragenyx Pharmaceutical by 3,137.6% in the second quarter. California State Teachers Retirement System now owns 3,388,117 shares of the biopharmaceutical company’s stock valued at $113,129,000 after purchasing an additional 3,283,467 shares in the last quarter. denkapparat Operations GmbH bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter worth about $230,000. Nykredit A S acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $154,000. Palo Alto Investors LP acquired a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $19,916,968,000. Finally, Jefferies Financial Group Inc. bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $31,040,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.