JPMorgan Chase & Co. Issues Pessimistic Forecast for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $105.00 to $102.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 115.92% from the stock’s previous close.

Other analysts have also issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. HC Wainwright raised their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Wedbush boosted their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.46.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE opened at $47.24 on Thursday. The company has a market capitalization of $4.36 billion, a PE ratio of -7.30 and a beta of 0.58. The business has a fifty day moving average price of $53.37 and a 200-day moving average price of $48.36. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The business had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same period last year, the business earned ($2.23) EPS. Ultragenyx Pharmaceutical’s revenue was up 42.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Ultragenyx Pharmaceutical will post -6.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,556 shares of company stock valued at $1,515,967. 5.80% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently modified their holdings of the company. Sei Investments Co. increased its stake in Ultragenyx Pharmaceutical by 0.9% in the 1st quarter. Sei Investments Co. now owns 65,996 shares of the biopharmaceutical company’s stock worth $3,081,000 after buying an additional 616 shares in the last quarter. US Bancorp DE grew its position in shares of Ultragenyx Pharmaceutical by 5.8% during the first quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 390 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Ultragenyx Pharmaceutical by 8.7% during the first quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock worth $284,000 after purchasing an additional 486 shares in the last quarter. Vanguard Group Inc. raised its stake in Ultragenyx Pharmaceutical by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 8,700,007 shares of the biopharmaceutical company’s stock valued at $406,203,000 after purchasing an additional 26,575 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 140.9% in the 1st quarter. Lazard Asset Management LLC now owns 4,160 shares of the biopharmaceutical company’s stock worth $193,000 after purchasing an additional 2,433 shares in the last quarter. 97.67% of the stock is currently owned by 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.