Ultragenyx Pharmaceutical (NASDAQ:RARE) Given Buy Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their buy rating on shares of Ultragenyx Pharmaceutical (NASDAQ:RARE) in a report released on Tuesday, AnalystRatings.com reports. The brokerage currently has a $84.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms also recently issued reports on RARE. Credit Suisse Group raised their price target on Ultragenyx Pharmaceutical from $60.00 to $64.00 and gave the stock a neutral rating in a research note on Wednesday, July 1st. Citigroup raised their price objective on shares of Ultragenyx Pharmaceutical from $53.00 to $66.00 and gave the stock a neutral rating in a report on Friday, May 8th. Piper Sandler increased their price target on shares of Ultragenyx Pharmaceutical from $70.00 to $83.00 and gave the stock an overweight rating in a research report on Tuesday, June 30th. SunTrust Banks boosted their price objective on shares of Ultragenyx Pharmaceutical from $82.00 to $88.00 in a research report on Wednesday, July 1st. Finally, Robert W. Baird raised their target price on Ultragenyx Pharmaceutical from $75.00 to $90.00 and gave the stock an outperform rating in a report on Wednesday, July 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $81.07.

RARE stock opened at $78.16 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.49 and a current ratio of 4.54. Ultragenyx Pharmaceutical has a 1-year low of $31.99 and a 1-year high of $91.77. The business has a fifty day moving average price of $79.63 and a 200-day moving average price of $63.43.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.23). The business had revenue of $36.31 million during the quarter, compared to analysts’ expectations of $36.74 million. Ultragenyx Pharmaceutical had a negative return on equity of 56.80% and a negative net margin of 188.51%. Ultragenyx Pharmaceutical’s quarterly revenue was up 99.8% compared to the same quarter last year. During the same period last year, the firm posted ($1.82) EPS. On average, equities analysts predict that Ultragenyx Pharmaceutical will post -6.38 EPS for the current fiscal year.

In other news, CEO Emil D. Kakkis sold 40,000 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $85.35, for a total value of $3,414,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Shalini Sharp sold 7,128 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $73.32, for a total transaction of $522,624.96. Following the transaction, the chief financial officer now owns 122,929 shares of the company’s stock, valued at approximately $9,013,154.28. The disclosure for this sale can be found here. Insiders sold a total of 81,110 shares of company stock valued at $6,667,359 over the last 90 days. 8.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its position in shares of Ultragenyx Pharmaceutical by 3.3% during the first quarter. Capital Research Global Investors now owns 6,573,960 shares of the biopharmaceutical company’s stock valued at $292,081,000 after purchasing an additional 211,265 shares in the last quarter. Capital International Investors raised its stake in shares of Ultragenyx Pharmaceutical by 1.5% during the first quarter. Capital International Investors now owns 6,132,194 shares of the biopharmaceutical company’s stock valued at $272,453,000 after acquiring an additional 89,619 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 35.2% during the first quarter. Federated Hermes Inc. now owns 4,016,760 shares of the biopharmaceutical company’s stock valued at $178,465,000 after acquiring an additional 1,044,752 shares in the last quarter. State Street Corp boosted its holdings in shares of Ultragenyx Pharmaceutical by 1.4% in the first quarter. State Street Corp now owns 2,229,351 shares of the biopharmaceutical company’s stock valued at $99,050,000 after purchasing an additional 30,604 shares during the period. Finally, Macquarie Group Ltd. grew its stake in Ultragenyx Pharmaceutical by 14.4% in the fourth quarter. Macquarie Group Ltd. now owns 1,414,209 shares of the biopharmaceutical company’s stock worth $60,401,000 after purchasing an additional 178,196 shares in the last quarter. 99.90% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. The company was founded by Emil D.

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Analyst Recommendations for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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