Pacad Investment Ltd. lessened its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 37.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,500 shares of the biopharmaceutical company’s stock after selling 3,900 shares during the period. Pacad Investment Ltd.’s holdings in Ultragenyx Pharmaceutical were worth $404,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of RARE. Sei Investments Co. bought a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth $125,000. Pacer Advisors Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 22.6% in the 1st quarter. Pacer Advisors Inc. now owns 3,037 shares of the biopharmaceutical company’s stock worth $206,000 after purchasing an additional 560 shares in the last quarter. Strs Ohio increased its holdings in shares of Ultragenyx Pharmaceutical by 10.7% in the 1st quarter. Strs Ohio now owns 3,100 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 300 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Ultragenyx Pharmaceutical by 3.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,226 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 115 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in shares of Ultragenyx Pharmaceutical by 8.0% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock worth $210,000 after purchasing an additional 250 shares in the last quarter. 96.18% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on RARE shares. Canaccord Genuity set a $98.00 price target on Ultragenyx Pharmaceutical and gave the stock a “buy” rating in a research note on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and issued a $111.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, June 30th. BidaskClub upgraded Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. J P Morgan Chase & Co set a $76.00 target price on Ultragenyx Pharmaceutical and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $69.00 target price (down from $80.00) on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. Ultragenyx Pharmaceutical has a consensus rating of “Hold” and an average target price of $71.65.
In other news, CEO Emil D. Kakkis acquired 7,500 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, August 28th. The shares were acquired at an average price of $52.52 per share, with a total value of $393,900.00. Following the completion of the purchase, the chief executive officer now owns 430,569 shares of the company’s stock, valued at approximately $22,613,483.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 9.20% of the company’s stock.
Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) opened at 53.39 on Friday. The firm’s 50-day moving average price is $57.68 and its 200 day moving average price is $63.99. The company’s market capitalization is $2.27 billion. Ultragenyx Pharmaceutical Inc. has a 52 week low of $49.56 and a 52 week high of $91.35.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.73) by $0.01. During the same quarter in the previous year, the company posted ($1.46) earnings per share. Equities analysts predict that Ultragenyx Pharmaceutical Inc. will post ($7.21) EPS for the current year.
Ultragenyx Pharmaceutical Profile
Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. Its clinical-stage pipeline consists of two product categories: biologics (including a monoclonal antibody and an enzyme replacement therapy), and small-molecule substrate replacement therapies.
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