Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,011 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 14.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,147 shares of the biopharmaceutical company’s stock after purchasing an additional 2,011 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ultragenyx Pharmaceutical were worth $772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornercap Investment Counsel Inc. purchased a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter valued at approximately $246,000. WCM Investment Management LLC boosted its holdings in Ultragenyx Pharmaceutical by 12.3% during the 4th quarter. WCM Investment Management LLC now owns 120,985 shares of the biopharmaceutical company’s stock worth $5,840,000 after acquiring an additional 13,220 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Ultragenyx Pharmaceutical by 38.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,979 shares of the biopharmaceutical company’s stock worth $95,000 after acquiring an additional 548 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Ultragenyx Pharmaceutical by 42.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 57,000 shares of the biopharmaceutical company’s stock valued at $2,745,000 after purchasing an additional 17,000 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 3,182.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,674 shares of the biopharmaceutical company’s stock valued at $80,000 after purchasing an additional 1,623 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RARE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Canaccord Genuity Group increased their price target on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Wedbush reiterated a “neutral” rating and set a $48.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, April 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $107.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, April 5th. Finally, Royal Bank of Canada assumed coverage on Ultragenyx Pharmaceutical in a research report on Monday, April 22nd. They set an “outperform” rating and a $77.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.08.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock opened at $44.02 on Tuesday. The stock has a market capitalization of $3.62 billion, a P/E ratio of -5.28 and a beta of 0.65. Ultragenyx Pharmaceutical Inc. has a 52-week low of $31.52 and a 52-week high of $54.98. The stock’s 50-day simple moving average is $47.70 and its 200 day simple moving average is $43.99.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.65) by $0.13. The company had revenue of $127.39 million during the quarter, compared to the consensus estimate of $119.38 million. Ultragenyx Pharmaceutical had a negative net margin of 139.70% and a negative return on equity of 369.54%. Ultragenyx Pharmaceutical’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the firm earned ($2.16) EPS. Equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Thomas Richard Kassberg sold 11,509 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the sale, the executive vice president now directly owns 252,823 shares in the company, valued at $12,623,452.39. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Matthew K. Fust sold 12,195 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.88, for a total transaction of $620,481.60. Following the completion of the sale, the director now owns 14,860 shares of the company’s stock, valued at $756,076.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $49.93, for a total value of $574,644.37. Following the transaction, the executive vice president now owns 252,823 shares of the company’s stock, valued at $12,623,452.39. The disclosure for this sale can be found here. Insiders sold a total of 32,116 shares of company stock worth $1,645,983 in the last quarter. 6.80% of the stock is owned by company insiders.

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.