JPMorgan Chase & Co. set a $68.00 target price on Ultragenyx Pharmaceutical (NASDAQ:RARE) in a research report released on Saturday, October 27th. The firm currently has a buy rating on the biopharmaceutical company’s stock.
A number of other brokerages have also commented on RARE. SunTrust Banks upped their price objective on shares of Ultragenyx Pharmaceutical to $83.00 and gave the company a positive rating in a research report on Monday, August 20th. Bank of America upped their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $94.00 and gave the company a buy rating in a research report on Tuesday, September 11th. Barclays reaffirmed an overweight rating and set a $92.00 price objective (up previously from $74.00) on shares of Ultragenyx Pharmaceutical in a research report on Friday, August 3rd. Piper Jaffray Companies dropped their price target on shares of Ultragenyx Pharmaceutical to $70.00 and set an overweight rating for the company in a research report on Friday, October 26th. Finally, BidaskClub lowered shares of Ultragenyx Pharmaceutical from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $75.95.
NASDAQ:RARE traded up $2.64 during trading hours on Friday, reaching $53.63. The company’s stock had a trading volume of 406,910 shares, compared to its average volume of 646,419. The stock has a market capitalization of $2.58 billion, a PE ratio of -7.15 and a beta of 2.34. Ultragenyx Pharmaceutical has a one year low of $41.67 and a one year high of $90.98.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.74) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.94) by $0.20. The firm had revenue of $11.80 million during the quarter, compared to analyst estimates of $11.97 million. Ultragenyx Pharmaceutical had a negative net margin of 508.70% and a negative return on equity of 40.10%. The business’s revenue was up 5800.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.87) EPS. On average, equities analysts anticipate that Ultragenyx Pharmaceutical will post -3.99 earnings per share for the current year.
In other Ultragenyx Pharmaceutical news, CFO Shalini Sharp sold 6,700 shares of the stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $90.07, for a total value of $603,469.00. Following the sale, the chief financial officer now directly owns 56,828 shares in the company, valued at $5,118,497.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Aliski sold 6,000 shares of the stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $55.67, for a total transaction of $334,020.00. Following the completion of the sale, the director now owns 72,610 shares in the company, valued at $4,042,198.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,250 shares of company stock worth $2,354,669. Company insiders own 8.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of RARE. Advisors Asset Management Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth $181,000. Pacer Advisors Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth $222,000. Gideon Capital Advisors Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth $303,000. Janney Montgomery Scott LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth $313,000. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of Ultragenyx Pharmaceutical by 49.7% during the first quarter. Xact Kapitalforvaltning AB now owns 6,623 shares of the biopharmaceutical company’s stock worth $338,000 after acquiring an additional 2,200 shares during the period. Institutional investors own 95.39% of the company’s stock.
About Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.
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