Tocqueville Asset Management L.P. Acquires New Position in Ultragenyx Pharmaceutical Inc. $RARE

Tocqueville Asset Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,250 shares of the biopharmaceutical company’s stock, valued at approximately $1,043,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $355,746,000. Assenagon Asset Management S.A. grew its stake in Ultragenyx Pharmaceutical by 1,030.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,257,671 shares of the biopharmaceutical company’s stock valued at $47,298,000 after buying an additional 2,057,951 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Ultragenyx Pharmaceutical by 614.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock valued at $65,205,000 after acquiring an additional 1,864,164 shares during the period. Norges Bank bought a new stake in Ultragenyx Pharmaceutical during the 4th quarter valued at $29,004,000. Finally, Eagle Health Investments LP purchased a new stake in shares of Ultragenyx Pharmaceutical during the first quarter worth $18,522,000. Institutional investors own 97.67% of the company’s stock.

Key Stories Impacting Ultragenyx Pharmaceutical

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: FDA approves GENGLYCOS: The FDA granted accelerated approval to GENGLYCOS (pariglasgene brecaparvovec, or DTX401), the first approved treatment designed to address the underlying cause of glycogen storage disease type Ia (GSDIa), a rare metabolic disorder. The approval gives Ultragenyx a potentially important new commercial product and expands its rare-disease portfolio. Reuters article
• Positive Sentiment: Potential long-term revenue opportunity: Analysts cited the gene therapy’s potential to create a “long revenue tailwind,” while the approval may reduce the treatment burden for GSDIa patients. Ultragenyx also received an FDA Priority Review Voucher, which could have strategic or financial value. Yahoo Finance article
• Positive Sentiment: Broad analyst optimism: Cantor Fitzgerald raised its price target to $103 from $96 and maintained an overweight rating. Canaccord Genuity lifted its target to $83 from $81 with a buy rating, while Citi raised its target to $58 from $45 and Wells Fargo to $46 from $45. These targets signal substantial expected upside from the referenced $25.32 share price. Benzinga article
• Neutral Sentiment: The accelerated approval is a significant catalyst, but investors will likely focus next on commercial launch timing, patient adoption, pricing, and required post-approval evidence.

Insider Activity at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the completion of the sale, the chief financial officer directly owned 105,689 shares in the company, valued at $2,512,227.53. The trade was a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the transaction, the director directly owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This represents a 8.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,552 shares of company stock valued at $207,455 over the last three months. 5.20% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical Stock Down 3.5%

Ultragenyx Pharmaceutical stock opened at $25.32 on Friday. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -4.34 and a beta of 0.35. The business has a 50-day simple moving average of $28.55 and a 200 day simple moving average of $24.97. Ultragenyx Pharmaceutical Inc. has a 52 week low of $18.29 and a 52 week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.32. The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The company’s revenue was up 28.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.17) EPS. On average, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -4.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RARE. Royal Bank Of Canada raised their price target on Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Monday, August 10th. Canaccord Genuity Group raised their target price on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald lifted their target price on Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Weiss Ratings upgraded Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.