Treasurer of the State of North Carolina Purchases 5,150 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Treasurer of the State of North Carolina boosted its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 17.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 34,853 shares of the biopharmaceutical company’s stock after purchasing an additional 5,150 shares during the period. Treasurer of the State of North Carolina’s holdings in Ultragenyx Pharmaceutical were worth $1,667,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RARE. Vanguard Group Inc. grew its stake in Ultragenyx Pharmaceutical by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,233,168 shares of the biopharmaceutical company’s stock valued at $257,862,000 after buying an additional 214,666 shares during the last quarter. Wellington Management Group LLP grew its position in Ultragenyx Pharmaceutical by 0.4% in the third quarter. Wellington Management Group LLP now owns 5,195,880 shares of the biopharmaceutical company’s stock valued at $185,233,000 after acquiring an additional 18,359 shares during the last quarter. Federated Hermes Inc. raised its position in Ultragenyx Pharmaceutical by 11.4% in the fourth quarter. Federated Hermes Inc. now owns 2,446,500 shares of the biopharmaceutical company’s stock valued at $116,992,000 after purchasing an additional 250,000 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Ultragenyx Pharmaceutical by 3.9% during the fourth quarter. Clearbridge Investments LLC now owns 2,383,492 shares of the biopharmaceutical company’s stock valued at $113,979,000 after acquiring an additional 89,922 shares during the last quarter. Finally, Rock Springs Capital Management LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 6.7% during the third quarter. Rock Springs Capital Management LP now owns 1,476,441 shares of the biopharmaceutical company’s stock worth $52,635,000 after purchasing an additional 92,172 shares during the period. Institutional investors own 97.67% of the company’s stock.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, EVP Thomas Richard Kassberg sold 11,509 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $49.93, for a total transaction of $574,644.37. Following the completion of the sale, the executive vice president now directly owns 252,823 shares of the company’s stock, valued at approximately $12,623,452.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. The Goldman Sachs Group raised Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $67.00 in a research report on Thursday. Canaccord Genuity Group lifted their price objective on Ultragenyx Pharmaceutical from $109.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. upped their target price on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Robert W. Baird raised their price target on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Royal Bank of Canada started coverage on shares of Ultragenyx Pharmaceutical in a research note on Monday, April 22nd. They issued an “outperform” rating and a $77.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.71.

Ultragenyx Pharmaceutical Stock Down 0.9 %

Shares of NASDAQ:RARE opened at $41.40 on Friday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $31.52 and a twelve month high of $54.56. The stock’s 50 day moving average is $43.26 and its 200-day moving average is $44.99. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of -5.16 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($0.31). The business had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. Ultragenyx Pharmaceutical had a negative return on equity of 425.63% and a negative net margin of 138.58%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.33) EPS. Equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.49 earnings per share for the current fiscal year.

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.