Arizona State Retirement System Grows Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Arizona State Retirement System lifted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 2.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,744 shares of the biopharmaceutical company’s stock after buying an additional 434 shares during the quarter. Arizona State Retirement System’s holdings in Ultragenyx Pharmaceutical were worth $853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Ultragenyx Pharmaceutical during the first quarter valued at $28,000. nVerses Capital LLC purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at $33,000. UMB Bank n.a. boosted its stake in Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares during the last quarter. GAMMA Investing LLC boosted its stake in Ultragenyx Pharmaceutical by 622.3% during the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 67.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 1,339 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Stock Up 1.6 %

NASDAQ:RARE opened at $58.74 on Friday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $31.52 and a 52 week high of $59.76. The stock’s fifty day moving average is $50.47 and its two-hundred day moving average is $46.30. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of -7.32 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The company had revenue of $147.03 million for the quarter, compared to analyst estimates of $123.20 million. During the same period in the prior year, the business earned ($2.25) EPS. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. On average, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.24 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the sale, the chief executive officer now owns 2,223,985 shares in the company, valued at $124,209,562.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have sold 40,675 shares of company stock valued at $2,149,446. Insiders own 5.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RARE shares. Cantor Fitzgerald boosted their price target on shares of Ultragenyx Pharmaceutical from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group boosted their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays cut their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Canaccord Genuity Group reissued a “buy” rating and set a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, July 23rd. Finally, Stifel Nicolaus raised their target price on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.43.

About Ultragenyx Pharmaceutical

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.