First Mercantile Trust Co. grew its stake in shares of Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) by 64.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,892 shares of the biopharmaceutical company’s stock after purchasing an additional 741 shares during the quarter. First Mercantile Trust Co.’s holdings in Ultragenyx Pharmaceutical were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. NumerixS Investment Technologies Inc acquired a new stake in Ultragenyx Pharmaceutical during the second quarter worth approximately $25,000. Cutler Group LP bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter worth approximately $31,000. Smith Asset Management Group LP increased its holdings in shares of Ultragenyx Pharmaceutical by 22.6% during the second quarter. Smith Asset Management Group LP now owns 1,680 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 310 shares during the period. CSat Investment Advisory L.P. bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter worth approximately $114,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Ultragenyx Pharmaceutical by 25.1% during the second quarter. Rockefeller Capital Management L.P. now owns 2,803 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 562 shares during the period.
Several research analysts have recently commented on RARE shares. Citigroup lowered their target price on shares of Ultragenyx Pharmaceutical from $66.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Wedbush reaffirmed a “buy” rating and set a $75.00 target price on shares of Ultragenyx Pharmaceutical in a report on Thursday, August 15th. Cowen reaffirmed a “buy” rating and set a $62.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 5th. ValuEngine cut shares of Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, Leerink Swann reaffirmed a “positive” rating and set a $85.00 target price (up from $80.00) on shares of Ultragenyx Pharmaceutical in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. Ultragenyx Pharmaceutical has a consensus rating of “Buy” and a consensus target price of $71.92.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.71) by ($0.25). The firm had revenue of $25.80 million during the quarter, compared to the consensus estimate of $28.88 million. Ultragenyx Pharmaceutical had a negative net margin of 470.18% and a negative return on equity of 52.16%. The business’s revenue was up 119.4% compared to the same quarter last year. During the same period last year, the business earned ($1.74) earnings per share. Equities analysts expect that Ultragenyx Pharmaceutical Inc will post -7.28 EPS for the current year.
In other news, CEO Emil D. Kakkis acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of $43.63 per share, with a total value of $218,150.00. Following the completion of the purchase, the chief executive officer now directly owns 472,479 shares of the company’s stock, valued at approximately $20,614,258.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.80% of the company’s stock.
Ultragenyx Pharmaceutical Company Profile
Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. The company was founded by Emil D.
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