Clearbridge Investments LLC Raises Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Clearbridge Investments LLC lifted its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,400,854 shares of the biopharmaceutical company’s stock after buying an additional 17,362 shares during the quarter. Clearbridge Investments LLC owned about 2.89% of Ultragenyx Pharmaceutical worth $112,096,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RARE. Sands Capital Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 59.8% during the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock worth $196,923,000 after buying an additional 1,540,791 shares during the last quarter. RTW Investments LP raised its position in Ultragenyx Pharmaceutical by 27.4% in the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock valued at $329,340,000 after purchasing an additional 1,481,997 shares during the last quarter. Vanguard Group Inc. raised its position in Ultragenyx Pharmaceutical by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after purchasing an additional 1,440,264 shares during the last quarter. Norges Bank purchased a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at $36,846,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Ultragenyx Pharmaceutical by 513.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock valued at $23,677,000 after purchasing an additional 424,476 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 9,806 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $441,270.00. Following the transaction, the executive vice president now directly owns 57,981 shares of the company’s stock, valued at approximately $2,609,145. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $41.10, for a total value of $71,390.70. Following the sale, the director now directly owns 7,248 shares of the company’s stock, valued at approximately $297,892.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Karah Herdman Parschauer sold 9,806 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $441,270.00. Following the completion of the sale, the executive vice president now directly owns 57,981 shares in the company, valued at $2,609,145. The disclosure for this sale can be found here. Insiders have sold a total of 12,127 shares of company stock valued at $536,593 in the last ninety days. 5.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada assumed coverage on shares of Ultragenyx Pharmaceutical in a research report on Monday, April 22nd. They issued an “outperform” rating and a $77.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $115.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Monday. Stifel Nicolaus upped their price target on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, May 31st. The Goldman Sachs Group upgraded shares of Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and upped their price target for the company from $56.00 to $67.00 in a research report on Thursday, June 6th. Finally, Robert W. Baird upped their price objective on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $86.50.

Ultragenyx Pharmaceutical Trading Down 0.2 %

Shares of NASDAQ:RARE traded down $0.07 on Wednesday, reaching $45.11. 391,351 shares of the company were exchanged, compared to its average volume of 809,883. Ultragenyx Pharmaceutical Inc. has a 1-year low of $31.52 and a 1-year high of $54.56. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -5.71 and a beta of 0.56. The company has a 50-day moving average of $41.29 and a 200-day moving average of $44.53.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative return on equity of 425.63% and a negative net margin of 138.58%. The company had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. During the same period last year, the company earned ($2.33) earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.45 earnings per share for the current year.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.