JPMorgan Chase & Co. Has Lowered Expectations for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

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

Several other equities research analysts have also recently issued reports on the stock. TD Cowen lifted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. HC Wainwright lifted their price objective on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $87.46.

Ultragenyx Pharmaceutical Trading Up 0.5 %

Ultragenyx Pharmaceutical stock traded up $0.23 during trading on Thursday, hitting $46.25. The company had a trading volume of 20,161 shares, compared to its average volume of 783,068. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37. The company’s 50 day simple moving average is $53.37 and its 200-day simple moving average is $48.36. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -7.11 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating the consensus estimate 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 company had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same quarter last year, the company posted ($2.23) EPS. The firm’s revenue was up 42.3% compared to the same quarter last year. As a group, analysts forecast that Ultragenyx Pharmaceutical will post -6.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This represents a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the company’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 transaction of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,556 shares of company stock worth $1,515,967. 5.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Ultragenyx Pharmaceutical by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock valued at $166,632,000 after purchasing an additional 120,175 shares in the last quarter. Vanguard Group Inc. boosted 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 acquiring an additional 26,575 shares during the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth about $17,468,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter worth about $691,000. Finally, Bayesian Capital Management LP bought a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at about $714,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.