Piper Sandler Has Lowered Expectations for Ultragenyx Pharmaceutical (NASDAQ:RARE) Stock Price

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective lowered by analysts at Piper Sandler from $140.00 to $115.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s target price would indicate a potential upside of 195.93% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on RARE. Wedbush restated a “neutral” rating and set a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Canaccord Genuity Group boosted their price objective on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, HC Wainwright restated a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.71.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $38.86 on Monday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -6.13 and a beta of 0.67. The stock has a 50 day moving average price of $42.12 and a 200-day moving average price of $47.74. Ultragenyx Pharmaceutical has a one year low of $37.02 and a one year high of $60.37.

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

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Howard Horn sold 1,785 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the transaction, the chief financial officer now directly owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 136,370 shares of company stock valued at $5,751,499. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RARE. Norges Bank acquired a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $40,463,000. Alkeon Capital Management LLC increased its position in 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. Vestal Point Capital LP increased its position in Ultragenyx Pharmaceutical by 100.0% during the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $63,105,000 after buying an additional 750,000 shares in the last quarter. Deep Track Capital LP acquired a new position in Ultragenyx Pharmaceutical during the 4th quarter valued at about $27,493,000. Finally, Pictet Asset Management Holding SA increased its position in Ultragenyx Pharmaceutical by 125.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock valued at $49,375,000 after buying an additional 653,088 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

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.