Raymond James Financial Inc. Takes Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Raymond James Financial Inc. bought a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 21,774 shares of the biopharmaceutical company’s stock, valued at approximately $916,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Ultragenyx Pharmaceutical by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after purchasing an additional 65,623 shares during the period. Two Sigma Advisers LP raised its position in shares of Ultragenyx Pharmaceutical by 123.4% during the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock valued at $54,872,000 after buying an additional 545,600 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Ultragenyx Pharmaceutical by 35.9% in the third quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company’s stock worth $36,311,000 after buying an additional 172,711 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of Ultragenyx Pharmaceutical by 49.1% during the third quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock worth $35,203,000 after acquiring an additional 208,715 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Ultragenyx Pharmaceutical by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,633 shares of the biopharmaceutical company’s stock valued at $25,816,000 after acquiring an additional 19,112 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE opened at $32.43 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of -5.12 and a beta of 0.61. The firm has a 50-day simple moving average of $40.83 and a two-hundred day simple moving average of $46.10. Ultragenyx Pharmaceutical Inc. has a 1 year low of $32.07 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The business had revenue of $164.88 million for the quarter, compared to analysts’ expectations of $163.23 million. As a group, equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Piper Sandler dropped their price target on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Wells Fargo & Company lifted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group boosted their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.79.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CAO Theodore Alan Huizenga sold 967 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $40,710.70. Following the transaction, the chief accounting officer now owns 50,265 shares of the company’s stock, valued at approximately $2,116,156.50. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Howard Horn sold 1,785 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the transaction, the chief financial officer now owns 106,169 shares in the company, valued at approximately $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,643 shares of company stock worth $5,256,268. Insiders own 5.80% of the company’s stock.

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.