The Manufacturers Life Insurance Company Takes Position in Ultragenyx Pharmaceutical Inc. $RARE

The Manufacturers Life Insurance Company purchased a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 2nd quarter, HoldingsChannel reports. The firm purchased 381,420 shares of the biopharmaceutical company’s stock, valued at approximately $12,736,000.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Ultragenyx Pharmaceutical by 662.9% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,001 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $39,000. Quantbot Technologies LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at approximately $48,000. Harbor Investment Advisory LLC acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $52,000. Finally, Parallel Advisors LLC raised its stake in shares of Ultragenyx Pharmaceutical by 778.4% during the 1st quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 1,440 shares during the period. Institutional investors and hedge funds own 97.67% of the company’s stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares in the company, valued at approximately $2,325,654.44. This trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.05, for a total transaction of $50,100.00. Following the sale, the director directly owned 21,095 shares in the company, valued at approximately $528,429.75. This trade represents a 8.66% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,552 shares of company stock worth $207,455. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RARE. Wedbush decreased their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Canaccord Genuity Group boosted their price target on shares of Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Weiss Ratings upgraded shares of Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 9th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Monday, August 10th. Finally, Royal Bank Of Canada lifted their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.44.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $25.61 on Friday. The stock has a market capitalization of $2.52 billion, a P/E ratio of -4.39 and a beta of 0.35. The business has a 50 day simple moving average of $28.55 and a two-hundred day simple moving average of $25.03. Ultragenyx Pharmaceutical Inc. has a 12 month low of $18.29 and a 12 month high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The firm had revenue of $214.00 million for the quarter, compared to analyst estimates of $183.08 million. During the same period in the previous year, the company posted ($1.17) earnings per share. The business’s revenue was up 28.5% on a year-over-year basis. As a group, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -3.97 EPS for the current fiscal year.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.