J.P. Morgan Keeps Their Buy Rating on Ultragenyx Pharmaceutical (RARE)

By Ryan Adsit

In a report issued on July 21, Cory Kasimov from J.P. Morgan maintained a Buy rating on Ultragenyx Pharmaceutical (RAREResearch Report), with a price target of $84.00. The company’s shares closed last Monday at $81.42.

According to TipRanks.com, Kasimov is a 5-star analyst with an average return of 22.1% and a 58.2% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, BioMarin Pharmaceutical, and ACADIA Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ultragenyx Pharmaceutical with a $82.73 average price target, implying a 6.9% upside from current levels. In a report issued on July 15, Morgan Stanley also maintained a Buy rating on the stock with a $88.00 price target.

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Based on Ultragenyx Pharmaceutical’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $36.31 million and GAAP net loss of $119 million. In comparison, last year the company earned revenue of $18.17 million and had a GAAP net loss of $96.76 million.

Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RARE in relation to earlier this year. Last month, Shalini Sharp, the CFO & EVP of RARE sold 12,798 shares for a total of $949,431.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. Mepsevii is an intravenous, which is used for the treatment of Mucopolysaccharidosis VII. Crysvita is an antibody administered via subcutaneous injection used for the treatment of XLH. The company was founded by Emil D. Kakkis on April 22, 2010 and is headquartered in Novato, CA.