Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $83.00 at Piper Sandler

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its price objective upped by Piper Sandler from $70.00 to $83.00 in a report published on Tuesday, The Fly reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

RARE has been the topic of several other research reports. Zacks Investment Research raised shares of Ultragenyx Pharmaceutical from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Thursday, April 16th. Canaccord Genuity raised their target price on Ultragenyx Pharmaceutical from $75.00 to $85.00 and gave the company a buy rating in a report on Friday, June 19th. Robert W. Baird reiterated a buy rating and set a $75.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, April 1st. BidaskClub raised Ultragenyx Pharmaceutical from a sell rating to a hold rating in a research report on Friday, June 19th. Finally, Stifel Nicolaus lifted their price objective on shares of Ultragenyx Pharmaceutical from $70.00 to $82.00 and gave the stock a buy rating in a report on Monday, May 18th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Ultragenyx Pharmaceutical has an average rating of Buy and an average price target of $77.64.

Shares of Ultragenyx Pharmaceutical stock opened at $73.66 on Tuesday. The stock has a market capitalization of $4.57 billion, a PE ratio of -10.02 and a beta of 2.21. Ultragenyx Pharmaceutical has a 52 week low of $31.99 and a 52 week high of $79.67. The stock has a 50 day moving average price of $71.53 and a two-hundred day moving average price of $57.31. 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 (NASDAQ:RARE) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.23). Ultragenyx Pharmaceutical had a negative net margin of 348.78% and a negative return on equity of 60.65%. The business had revenue of $36.31 million during the quarter, compared to analyst estimates of $36.74 million. During the same period in the previous year, the business posted ($1.82) EPS. The business’s revenue for the quarter was up 99.8% compared to the same quarter last year. Research analysts forecast that Ultragenyx Pharmaceutical will post -6.43 EPS for the current year.

In related news, Director Matthew K. Fust sold 1,875 shares of Ultragenyx Pharmaceutical stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $65.00, for a total value of $121,875.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Karah Herdman Parschauer sold 2,722 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $74.72, for a total value of $203,387.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,555 shares of company stock valued at $1,942,395. 8.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of RARE. Federated Hermes Inc. raised its position in shares of Ultragenyx Pharmaceutical by 35.2% in the first quarter. Federated Hermes Inc. now owns 4,016,760 shares of the biopharmaceutical company’s stock valued at $178,465,000 after purchasing an additional 1,044,752 shares during the period. Capital World Investors raised its holdings in Ultragenyx Pharmaceutical by 36.5% during the 4th quarter. Capital World Investors now owns 3,237,295 shares of the biopharmaceutical company’s stock valued at $138,265,000 after acquiring an additional 865,865 shares during the period. Norges Bank bought a new stake in Ultragenyx Pharmaceutical during the 4th quarter valued at $21,892,000. Bank of New York Mellon Corp lifted its position in shares of Ultragenyx Pharmaceutical by 205.2% during the first quarter. Bank of New York Mellon Corp now owns 704,416 shares of the biopharmaceutical company’s stock worth $31,297,000 after acquiring an additional 473,598 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Ultragenyx Pharmaceutical by 154.8% in the fourth quarter. Franklin Resources Inc. now owns 370,650 shares of the biopharmaceutical company’s stock worth $15,830,000 after acquiring an additional 225,200 shares during the period. Hedge funds and other institutional investors own 99.91% of the company’s stock.

About Ultragenyx Pharmaceutical

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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