Pitcairn Co. Reduces Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Pitcairn Co. cut its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,584 shares of the biopharmaceutical company’s stock after selling 1,456 shares during the quarter. Pitcairn Co.’s holdings in Ultragenyx Pharmaceutical were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Ultragenyx Pharmaceutical by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,568,873 shares of the biopharmaceutical company’s stock worth $166,632,000 after purchasing an additional 120,175 shares during the period. Frazier Life Sciences Management L.P. purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth $17,468,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter worth $691,000. Bayesian Capital Management LP bought a new stake in shares of Ultragenyx Pharmaceutical in the first quarter worth $714,000. Finally, Candriam S.C.A. increased its position in Ultragenyx Pharmaceutical by 33.1% during the second quarter. Candriam S.C.A. now owns 688,942 shares of the biopharmaceutical company’s stock valued at $28,314,000 after acquiring an additional 171,345 shares during the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Wedbush boosted their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. HC Wainwright upped their target price on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.46.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE opened at $47.12 on Tuesday. The firm’s fifty day moving average is $53.14 and its two-hundred day moving average is $48.49. Ultragenyx Pharmaceutical Inc. has a 52-week low of $37.02 and a 52-week high of $60.37. The company has a market cap of $4.35 billion, a P/E ratio of -7.28 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same period in the previous year, the business earned ($2.23) earnings per share. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. As a group, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current fiscal year.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,556 shares of company stock worth $1,515,967. 5.80% of the stock is currently owned by insiders.

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.