Pictet Asset Management Ltd. trimmed its stake in Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) by 46.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 306,325 shares of the biopharmaceutical company’s stock after selling 270,636 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.53% of Ultragenyx Pharmaceutical worth $19,452,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of RARE. Federated Investors Inc. PA grew its holdings in shares of Ultragenyx Pharmaceutical by 36.9% in the 1st quarter. Federated Investors Inc. PA now owns 1,749,274 shares of the biopharmaceutical company’s stock worth $121,330,000 after acquiring an additional 471,955 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Ultragenyx Pharmaceutical by 26.3% in the 1st quarter. First Trust Advisors LP now owns 1,859,052 shares of the biopharmaceutical company’s stock worth $128,944,000 after acquiring an additional 387,118 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 6.0% in the 1st quarter. BlackRock Inc. now owns 4,745,363 shares of the biopharmaceutical company’s stock worth $329,138,000 after acquiring an additional 268,551 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth $5,151,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Ultragenyx Pharmaceutical by 120.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 136,555 shares of the biopharmaceutical company’s stock worth $5,936,000 after acquiring an additional 74,608 shares during the last quarter.
RARE has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Ultragenyx Pharmaceutical from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, September 4th. Cowen reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Thursday, August 15th. Piper Jaffray Companies set a $75.00 target price on Ultragenyx Pharmaceutical and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Barclays reaffirmed a “buy” rating and issued a $87.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Sunday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Ultragenyx Pharmaceutical has an average rating of “Buy” and an average target price of $74.23.
In other news, CEO Emil D. Kakkis acquired 5,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $43.63 per share, with a total value of $218,150.00. Following the completion of the transaction, the chief executive officer now owns 472,479 shares in the company, valued at $20,614,258.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Karah Herdman Parschauer sold 1,226 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 24th. The shares were sold at an average price of $61.50, for a total value of $75,399.00. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.
Shares of Ultragenyx Pharmaceutical stock traded down $0.11 during midday trading on Friday, hitting $44.58. The company’s stock had a trading volume of 260,277 shares, compared to its average volume of 519,554. The firm has a market capitalization of $2.59 billion, a P/E ratio of -6.03 and a beta of 2.13. The stock has a 50-day simple moving average of $55.85 and a 200-day simple moving average of $61.69. The company has a quick ratio of 9.14, a current ratio of 9.32 and a debt-to-equity ratio of 0.04. Ultragenyx Pharmaceutical Inc has a 1-year low of $37.44 and a 1-year high of $90.98.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.72) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.73) by $0.01. The business had revenue of $24.15 million during the quarter, compared to analysts’ expectations of $22.16 million. Ultragenyx Pharmaceutical had a negative return on equity of 49.84% and a negative net margin of 527.49%. Ultragenyx Pharmaceutical’s revenue was up 88.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.06) earnings per share. As a group, sell-side analysts predict that Ultragenyx Pharmaceutical Inc will post -7.03 earnings per share for the current year.
Ultragenyx Pharmaceutical Profile
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. The company was founded by Emil D.
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