BlackRock Inc. Buys New Stake in Ultragenyx Pharmaceutical Inc. $RARE

BlackRock Inc. bought a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 2nd quarter, Holdings Channel reports. The firm bought 10,654,276 shares of the biopharmaceutical company’s stock, valued at approximately $355,746,000. BlackRock Inc. owned about 0.11% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RARE. Pallas Capital Advisors LLC bought a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $287,000. Deutsche Bank AG bought a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at about $5,503,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $348,000. Bank of New York Mellon Corp acquired a new stake in Ultragenyx Pharmaceutical in the second quarter worth about $15,717,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at about $327,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 2.9%

Shares of NASDAQ RARE opened at $26.46 on Wednesday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $18.29 and a twelve month high of $39.89. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -4.53 and a beta of 0.35. The firm has a 50-day moving average of $28.62 and a two-hundred day moving average of $25.00.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data 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. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. During the same quarter last year, the firm posted ($1.17) EPS. The business’s revenue for the quarter was up 28.5% on a year-over-year basis. As a group, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.99 earnings per share for the current year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director owned 21,095 shares of the company’s stock, valued at approximately $528,429.75. This represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Horn sold 4,653 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $23.77, for a total value of $110,601.81. Following the sale, the chief financial officer directly owned 105,689 shares in the company, valued at $2,512,227.53. This trade represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 8,552 shares of company stock worth $207,455. 5.20% of the stock is owned by insiders.

Analysts Set New Price Targets

RARE has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Citigroup increased their price objective on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Royal Bank Of Canada raised their price objective on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Guggenheim dropped their target price on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.22.

Ultragenyx Pharmaceutical 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.