Ameriprise Financial Inc. Boosts Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Ameriprise Financial Inc. grew its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,396 shares of the biopharmaceutical company’s stock after acquiring an additional 1,039 shares during the quarter. Ameriprise Financial Inc.’s holdings in Ultragenyx Pharmaceutical were worth $564,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company’s stock worth $422,167,000 after buying an additional 89,389 shares during the period. Invesco Ltd. increased its stake in shares of Ultragenyx Pharmaceutical by 1.5% in the fourth quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company’s stock worth $71,509,000 after buying an additional 25,487 shares during the period. Alliancebernstein L.P. increased its stake in shares of Ultragenyx Pharmaceutical by 5.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company’s stock worth $68,487,000 after buying an additional 81,667 shares during the period. Alyeska Investment Group L.P. increased its stake in shares of Ultragenyx Pharmaceutical by 23.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company’s stock worth $60,570,000 after buying an additional 269,733 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in shares of Ultragenyx Pharmaceutical by 125.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company’s stock worth $49,375,000 after buying an additional 653,088 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $36.40 on Wednesday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -5.74 and a beta of 0.34. The firm’s 50-day moving average is $35.53 and its 200 day moving average is $40.52. Ultragenyx Pharmaceutical Inc. has a 1 year low of $29.59 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.03). The firm had revenue of $139.29 million during the quarter, compared to the consensus estimate of $145.98 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.03) EPS. On average, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Analysts Set New Price Targets

RARE has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. William Blair started coverage on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They issued an “outperform” rating and a $65.00 target price on the stock. Morgan Stanley boosted their price objective on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Canaccord Genuity Group boosted their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler reduced their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.77.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of the company’s stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 2,547 shares of company stock worth $101,015 in the last quarter. Corporate insiders own 5.50% of the company’s stock.

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.