Hennion & Walsh Asset Management Inc. Increases Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Hennion & Walsh Asset Management Inc. increased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 40.0% in the 1st quarter, Holdings Channel reports. The fund owned 49,537 shares of the biopharmaceutical company’s stock after buying an additional 14,159 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Ultragenyx Pharmaceutical were worth $2,313,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RARE. FMR LLC grew its position in Ultragenyx Pharmaceutical by 23.4% in the third quarter. FMR LLC now owns 1,027,785 shares of the biopharmaceutical company’s stock worth $36,641,000 after acquiring an additional 195,108 shares in the last quarter. Invesco Ltd. boosted its position in Ultragenyx Pharmaceutical by 2.1% during the third quarter. Invesco Ltd. now owns 385,441 shares of the biopharmaceutical company’s stock valued at $13,741,000 after buying an additional 8,092 shares during the period. Hsbc Holdings PLC boosted its position in Ultragenyx Pharmaceutical by 10.9% during the third quarter. Hsbc Holdings PLC now owns 26,975 shares of the biopharmaceutical company’s stock valued at $958,000 after buying an additional 2,662 shares during the period. Trexquant Investment LP boosted its position in Ultragenyx Pharmaceutical by 2.3% during the third quarter. Trexquant Investment LP now owns 29,548 shares of the biopharmaceutical company’s stock valued at $1,053,000 after buying an additional 668 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in Ultragenyx Pharmaceutical during the third quarter valued at about $1,513,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $41.10, for a total transaction of $71,390.70. Following the completion of the transaction, the director now owns 7,248 shares of the company’s stock, valued at $297,892.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 9,806 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $441,270.00. Following the completion of the transaction, the executive vice president now owns 57,981 shares of the company’s stock, valued at $2,609,145. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $41.10, for a total transaction of $71,390.70. Following the sale, the director now owns 7,248 shares in the company, valued at approximately $297,892.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,685 shares of company stock valued at $518,923. Corporate insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

RARE stock traded down $0.32 during trading on Friday, reaching $41.10. The company had a trading volume of 1,581,636 shares, compared to its average volume of 1,112,329. Ultragenyx Pharmaceutical Inc. has a 52 week low of $31.52 and a 52 week high of $54.56. The company has a market cap of $3.42 billion, a P/E ratio of -5.12 and a beta of 0.60. The business has a 50 day moving average of $41.29 and a 200 day moving average of $45.05.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative return on equity of 425.63% and a negative net margin of 138.58%. The company had revenue of $108.83 million during the quarter, compared to the consensus estimate of $116.03 million. During the same period in the previous year, the company earned ($2.33) earnings per share. Ultragenyx Pharmaceutical’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. The Goldman Sachs Group upgraded shares of Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and upped their price target for the company from $56.00 to $67.00 in a research report on Thursday, June 6th. Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $109.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Bank of America lowered their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, TD Cowen upped their price objective on shares of Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.71.

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.