Raymond James Financial Inc. Buys New Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

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

Several other hedge funds also recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 493 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Ultragenyx Pharmaceutical during the fourth quarter worth about $35,000. Human Investing LLC acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter worth about $42,000. Van ECK Associates Corp grew its holdings in Ultragenyx Pharmaceutical by 18.4% in the 4th quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 273 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at about $83,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Stock Down 1.1 %

Ultragenyx Pharmaceutical stock opened at $38.87 on Tuesday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $29.59 and a 12-month high of $60.37. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of -6.13 and a beta of 0.34. The business’s 50-day simple moving average is $37.38 and its 200 day simple moving average is $42.91.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) 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 company had revenue of $164.88 million during the quarter, compared to the consensus estimate of $163.23 million. As a group, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RARE. JPMorgan Chase & Co. boosted their price target on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Piper Sandler dropped their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Wedbush reiterated a “neutral” rating and set a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $92.79.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 1,785 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the sale, the chief financial officer now owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas Richard Kassberg sold 6,028 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $253,778.80. Following the completion of the sale, the executive vice president now owns 265,238 shares of the company’s stock, valued at approximately $11,166,519.80. The trade was a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,405 shares of company stock valued at $5,285,169. 5.50% of the stock is owned by insiders.

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.