Wealth Enhancement Advisory Services LLC Grows Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Wealth Enhancement Advisory Services LLC lifted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,047 shares of the biopharmaceutical company’s stock after purchasing an additional 294 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Ultragenyx Pharmaceutical were worth $928,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RARE. Nordea Investment Management AB grew its position in Ultragenyx Pharmaceutical by 8.9% during the fourth quarter. Nordea Investment Management AB now owns 39,673 shares of the biopharmaceutical company’s stock valued at $1,658,000 after buying an additional 3,246 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Ultragenyx Pharmaceutical by 740.0% during the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after acquiring an additional 76,150 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at about $83,000. Geode Capital Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after purchasing an additional 65,623 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Ultragenyx Pharmaceutical by 8.1% in the 3rd quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company’s stock worth $388,000 after purchasing an additional 525 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RARE. JPMorgan Chase & Co. dropped their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Piper Sandler lifted their price target on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, December 24th. Finally, TD Cowen lifted their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.29.

Ultragenyx Pharmaceutical Trading Up 2.4 %

RARE opened at $40.98 on Thursday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The firm has a market capitalization of $3.78 billion, a PE ratio of -6.33 and a beta of 0.58. The firm’s 50-day moving average price is $45.49 and its 200 day moving average price is $49.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping the consensus estimate of ($1.45) by $0.05. The business had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.23) EPS. As a group, analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.80% of the stock is currently owned by corporate insiders.

Ultragenyx Pharmaceutical Company 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.