Royal Bank of Canada boosted its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 933.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 224,261 shares of the biopharmaceutical company’s stock after purchasing an additional 202,556 shares during the period. Royal Bank of Canada owned about 0.53% of Ultragenyx Pharmaceutical worth $13,929,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new position in Ultragenyx Pharmaceutical during the second quarter valued at $125,000. Tocqueville Asset Management L.P. lifted its position in Ultragenyx Pharmaceutical by 8.0% during the second quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock valued at $210,000 after purchasing an additional 250 shares in the last quarter. Pacer Advisors Inc. lifted its position in Ultragenyx Pharmaceutical by 12.0% during the second quarter. Pacer Advisors Inc. now owns 3,402 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 365 shares in the last quarter. Karp Capital Management Corp purchased a new position in Ultragenyx Pharmaceutical during the first quarter valued at $241,000. Finally, Airain ltd purchased a new position in Ultragenyx Pharmaceutical during the second quarter valued at $224,000. Institutional investors own 96.07% of the company’s stock.
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Several equities analysts recently weighed in on RARE shares. BidaskClub upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. ValuEngine upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Cowen and Company reiterated an “outperform” rating on shares of Ultragenyx Pharmaceutical in a research report on Thursday, June 29th. Stifel Nicolaus restated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 30th. Finally, Zacks Investment Research downgraded Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.94.
Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ RARE) opened at 53.95 on Friday. The stock has a 50 day moving average price of $53.62 and a 200 day moving average price of $59.58. Ultragenyx Pharmaceutical Inc. has a one year low of $49.56 and a one year high of $91.35. The company’s market capitalization is $2.29 billion.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.73) by $0.01. During the same quarter in the previous year, the business earned ($1.46) EPS. On average, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post ($7.14) earnings per share for the current year.
In related news, CEO Emil D. Kakkis purchased 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were purchased at an average cost of $52.52 per share, with a total value of $393,900.00. Following the purchase, the chief executive officer now owns 430,569 shares of the company’s stock, valued at approximately $22,613,483.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.20% of the company’s stock.
Ultragenyx Pharmaceutical Company 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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