Smith Asset Management Group LP reduced its stake in Ultragenyx Pharmaceutical (NASDAQ:RARE) by 45.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,650 shares of the biopharmaceutical company’s stock after selling 3,900 shares during the period. Smith Asset Management Group LP’s holdings in Ultragenyx Pharmaceutical were worth $237,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Candriam Luxembourg S.C.A. boosted its holdings in shares of Ultragenyx Pharmaceutical by 23.3% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 74,000 shares of the biopharmaceutical company’s stock worth $3,432,000 after acquiring an additional 14,000 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Ultragenyx Pharmaceutical by 1,246.9% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,273 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 3,030 shares during the period. Kornitzer Capital Management Inc. KS bought a new stake in Ultragenyx Pharmaceutical during the first quarter valued at $3,687,000. Paloma Partners Management Co bought a new stake in Ultragenyx Pharmaceutical during the fourth quarter valued at $580,000. Finally, Swiss National Bank boosted its stake in Ultragenyx Pharmaceutical by 4.0% during the fourth quarter. Swiss National Bank now owns 69,952 shares of the biopharmaceutical company’s stock valued at $3,244,000 after buying an additional 2,700 shares during the period. 87.65% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on RARE shares. Bank of America lifted their price objective on Ultragenyx Pharmaceutical from $61.00 to $72.00 in a research note on Tuesday, April 17th. Stifel Nicolaus reissued a “buy” rating and set a $74.00 price objective (down previously from $85.00) on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 21st. Robert W. Baird reissued a “buy” rating and set a $70.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 23rd. BidaskClub raised Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday, April 14th. Finally, SunTrust Banks raised Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating and lifted their price objective for the company from $41.67 to $55.00 in a research note on Wednesday, April 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $70.06.
Shares of RARE stock opened at $64.18 on Friday. Ultragenyx Pharmaceutical has a 12-month low of $62.51 and a 12-month high of $64.07.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Monday, May 7th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.81. The firm had revenue of $10.68 million for the quarter, compared to the consensus estimate of $56.58 million. During the same period last year, the firm earned ($1.63) EPS. equities research analysts anticipate that Ultragenyx Pharmaceutical will post -5.51 earnings per share for the current fiscal year.
In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,465 shares of Ultragenyx Pharmaceutical stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $60.00, for a total transaction of $87,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.20% of the company’s stock.
Ultragenyx Pharmaceutical Profile
Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.
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