Prudential Financial Inc. Boosts Position in Ultragenyx Pharmaceutical Inc. (RARE)
Prudential Financial Inc. boosted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 85.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,770 shares of the biopharmaceutical company’s stock after acquiring an additional 3,110 shares during the quarter. Prudential Financial Inc.’s holdings in Ultragenyx Pharmaceutical were worth $420,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in Ultragenyx Pharmaceutical by 102,249.1% in the 1st quarter. BlackRock Inc. now owns 3,166,680 shares of the biopharmaceutical company’s stock valued at $214,637,000 after acquiring an additional 3,163,586 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at $5,422,000. State of Wisconsin Investment Board bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at $1,739,000. Russell Investments Group Ltd. lifted its position in Ultragenyx Pharmaceutical by 11.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 31,184 shares of the biopharmaceutical company’s stock valued at $1,937,000 after acquiring an additional 3,195 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Ultragenyx Pharmaceutical by 4.6% in the 1st quarter. Amalgamated Bank now owns 4,628 shares of the biopharmaceutical company’s stock valued at $314,000 after acquiring an additional 202 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.
RARE has been the topic of several research reports. Canaccord Genuity set a $98.00 price objective on shares of Ultragenyx Pharmaceutical and gave the company a “buy” rating in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 30th. BidaskClub raised shares of Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. J P Morgan Chase & Co set a $76.00 price objective on shares of Ultragenyx Pharmaceutical and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.94.
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Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) opened at 54.90 on Thursday. The company’s market capitalization is $2.33 billion. Ultragenyx Pharmaceutical Inc. has a 12 month low of $49.56 and a 12 month high of $91.35. The firm’s 50-day moving average is $53.39 and its 200 day moving average is $59.79.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.73) by $0.01. During the same quarter in the prior year, the business earned ($1.46) earnings per share. Equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post ($7.14) EPS for the current year.
In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis acquired 7,500 shares of the company’s stock in a transaction on Monday, August 28th. The shares were purchased at an average cost of $52.52 per share, with a total value of $393,900.00. Following the completion of the purchase, the chief executive officer now owns 430,569 shares of the company’s stock, valued at $22,613,483.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.20% of the stock is currently owned by company insiders.
About Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. Its clinical-stage pipeline consists of two product categories: biologics (including a monoclonal antibody and an enzyme replacement therapy), and small-molecule substrate replacement therapies.
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