Emerald Advisers LLC Lowers Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Emerald Advisers LLC decreased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 9.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 518,328 shares of the biopharmaceutical company’s stock after selling 51,470 shares during the quarter. Emerald Advisers LLC’s holdings in Ultragenyx Pharmaceutical were worth $21,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of RARE. Algert Global LLC raised its holdings in Ultragenyx Pharmaceutical by 46.9% in the 3rd quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock worth $4,105,000 after purchasing an additional 23,580 shares during the period. Bamco Inc. NY acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth about $2,666,000. Principal Financial Group Inc. raised its holdings in Ultragenyx Pharmaceutical by 740.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after purchasing an additional 76,150 shares during the period. Cerity Partners LLC acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth about $1,773,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Ultragenyx Pharmaceutical by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock worth $928,000 after purchasing an additional 294 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Wall Street Analysts Forecast Growth

RARE has been the subject of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Wedbush reaffirmed a “neutral” rating and issued a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a report on Monday, January 13th. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Piper Sandler reduced their target price on Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Finally, Canaccord Genuity Group increased their target price on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.71.

Insider Buying and Selling

In related news, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $40,710.70. Following the completion of the transaction, the chief accounting officer now directly owns 50,265 shares in the company, valued at approximately $2,116,156.50. This represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the transaction, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,370 shares of company stock worth $5,751,499. Company insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

RARE stock opened at $39.18 on Friday. The business has a 50 day simple moving average of $41.88 and a 200-day simple moving average of $47.45. The firm has a market capitalization of $3.62 billion, a PE ratio of -6.18 and a beta of 0.67. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to analysts’ expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. On average, equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current year.

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.