Norges Bank Invests $36,717,000 in Ultragenyx Pharmaceutical Inc (RARE)

Norges Bank acquired a new position in Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 522,215 shares of the biopharmaceutical company’s stock, valued at approximately $36,717,000.

Several other institutional investors have also added to or reduced their stakes in the company. First Mercantile Trust Co. increased its position in Ultragenyx Pharmaceutical by 1.7% in the third quarter. First Mercantile Trust Co. now owns 2,339 shares of the biopharmaceutical company’s stock worth $166,000 after buying an additional 39 shares during the last quarter. Moody Aldrich Partners LLC acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth approximately $321,000. Emerald Advisers Inc. PA acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth approximately $19,153,000. Emerald Mutual Fund Advisers Trust acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth approximately $18,767,000. Finally, Rothschild Asset Management Inc. increased its position in Ultragenyx Pharmaceutical by 17.4% in the third quarter. Rothschild Asset Management Inc. now owns 5,600 shares of the biopharmaceutical company’s stock worth $397,000 after buying an additional 830 shares during the last quarter. 96.35% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Ultragenyx Pharmaceutical (NASDAQ:RARE)

Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) opened at 69.98 on Tuesday. The company’s 50-day moving average is $80.02 and its 200 day moving average is $73.61. The company’s market capitalization is $2.92 billion. Ultragenyx Pharmaceutical Inc has a one year low of $46.52 and a one year high of $91.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, February 16th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.72) by $0.03. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the prior year, the company posted ($1.42) EPS. Ultragenyx Pharmaceutical’s revenue was up 4900.0% on a year-over-year basis. Analysts predict that Ultragenyx Pharmaceutical Inc will post ($7.11) EPS for the current year.

TRADEMARK VIOLATION WARNING: This report was first reported by Mideast Time and is owned by of Mideast Time. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this report can be read at https://www.mideasttime.com/norges-bank-invests-36717000-in-ultragenyx-pharmaceutical-inc-rare/1590307.html.

RARE has been the subject of a number of analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $96.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 30th. Wedbush reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 30th. Citigroup Inc downgraded shares of Ultragenyx Pharmaceutical from a “neutral” rating to a “sell” rating in a report on Wednesday, November 30th. Zacks Investment Research downgraded shares of Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, January 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $109.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $87.62.

In related news, CFO Shalini Sharp sold 12,000 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $80.14, for a total value of $961,680.00. Following the transaction, the chief financial officer now directly owns 63,887 shares in the company, valued at $5,119,904.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Theodore Alan Huizenga sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $86.34, for a total transaction of $215,850.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,500 shares of company stock worth $2,258,730. Corporate insiders own 10.10% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

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.

5 Day Chart for NASDAQ:RARE

Want to see what other hedge funds are holding RARE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ultragenyx Pharmaceutical Inc (NASDAQ:RARE).

Receive News & Ratings for Ultragenyx Pharmaceutical Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultragenyx Pharmaceutical Inc and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.