Point72 DIFC Ltd Cuts Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Point72 DIFC Ltd lowered its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 73.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,669 shares of the biopharmaceutical company’s stock after selling 7,383 shares during the period. Point72 DIFC Ltd’s holdings in Ultragenyx Pharmaceutical were worth $110,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. TD Asset Management Inc grew its position in Ultragenyx Pharmaceutical by 7.8% during the fourth quarter. TD Asset Management Inc now owns 221,360 shares of the biopharmaceutical company’s stock worth $10,585,000 after buying an additional 16,000 shares during the period. Treasurer of the State of North Carolina grew its holdings in Ultragenyx Pharmaceutical by 17.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 34,853 shares of the biopharmaceutical company’s stock valued at $1,667,000 after purchasing an additional 5,150 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ultragenyx Pharmaceutical by 13.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 272,339 shares of the biopharmaceutical company’s stock valued at $13,023,000 after buying an additional 31,482 shares in the last quarter. NEOS Investment Management LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $516,000. Finally, Rafferty Asset Management LLC grew its stake in Ultragenyx Pharmaceutical by 21.2% in the 4th quarter. Rafferty Asset Management LLC now owns 221,910 shares of the biopharmaceutical company’s stock valued at $10,612,000 after acquiring an additional 38,859 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RARE. The Goldman Sachs Group raised their price objective on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, July 23rd. Barclays dropped their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Thursday, September 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $87.43.

Insider Activity

In related news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the sale, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 40,091 shares of company stock worth $2,125,513 over the last 90 days. Company insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Stock Up 1.7 %

Ultragenyx Pharmaceutical stock opened at $56.51 on Wednesday. The firm has a fifty day moving average of $53.50 and a 200-day moving average of $46.74. Ultragenyx Pharmaceutical Inc. has a 52-week low of $31.52 and a 52-week high of $60.37. The firm has a market capitalization of $5.21 billion, a P/E ratio of -7.04 and a beta of 0.56.

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

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.