BlackRock Inc. Has $217.24 Million Stake in Ultragenyx Pharmaceutical Inc. (RARE)
BlackRock Inc. grew its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 10.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,497,591 shares of the biopharmaceutical company’s stock after buying an additional 330,911 shares during the quarter. BlackRock Inc. owned 8.24% of Ultragenyx Pharmaceutical worth $217,237,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of RARE. Pictet Asset Management Ltd. lifted its holdings in shares of Ultragenyx Pharmaceutical by 41.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 589,211 shares of the biopharmaceutical company’s stock valued at $31,729,000 after buying an additional 173,433 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 2,994,938 shares of the biopharmaceutical company’s stock valued at $202,997,000 after buying an additional 161,622 shares during the period. First Trust Advisors LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 30.0% in the 2nd quarter. First Trust Advisors LP now owns 511,740 shares of the biopharmaceutical company’s stock valued at $31,784,000 after buying an additional 118,073 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Ultragenyx Pharmaceutical by 20.0% in the 2nd quarter. Alliancebernstein L.P. now owns 689,206 shares of the biopharmaceutical company’s stock valued at $42,807,000 after buying an additional 114,897 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter valued at about $5,422,000. 96.07% of the stock is owned by institutional investors and hedge funds.
Shares of Ultragenyx Pharmaceutical Inc. (RARE) opened at 54.31 on Friday. Ultragenyx Pharmaceutical Inc. has a 1-year low of $49.56 and a 1-year high of $91.35. The firm’s 50-day moving average price is $53.66 and its 200 day moving average price is $60.34. The stock’s market capitalization is $2.31 billion.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.73) by $0.01. During the same quarter last year, the company earned ($1.46) EPS. Equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post ($7.14) earnings per share for the current fiscal year.
Several brokerages have recently issued reports on RARE. HC Wainwright reissued a “neutral” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Ultragenyx Pharmaceutical in a report on Tuesday, August 8th. Morgan Stanley restated an “equal weight” rating and issued a $71.00 price target (up previously from $69.00) on shares of Ultragenyx Pharmaceutical in a research note on Friday. Jefferies Group LLC restated a “hold” rating and issued a $68.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, July 14th. Canaccord Genuity restated a “buy” rating and issued a $83.00 price target (down previously from $98.00) on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, August 22nd. Finally, Evercore ISI initiated coverage on Ultragenyx Pharmaceutical in a research note on Wednesday, August 16th. They issued an “in-line” rating and a $63.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $71.94.
In related news, CEO Emil D. Kakkis purchased 7,500 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, August 28th. The stock was bought at an average cost of $52.52 per share, for a total transaction of $393,900.00. Following the transaction, the chief executive officer now owns 430,569 shares in the company, valued at $22,613,483.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.20% of the stock is currently owned by company insiders.
Ultragenyx Pharmaceutical Profile
Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. Its clinical-stage pipeline consists of two product categories: biologics (including a monoclonal antibody and an enzyme replacement therapy), and small-molecule substrate replacement therapies.
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