JPMorgan Chase & Co. Sells 3,536 Shares of Ultragenyx Pharmaceutical Inc. (RARE)
JPMorgan Chase & Co. reduced its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,204 shares of the biopharmaceutical company’s stock after selling 3,536 shares during the period. JPMorgan Chase & Co. owned approximately 0.45% of Ultragenyx Pharmaceutical worth $10,321,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RARE. Sei Investments Co. bought a new position in Ultragenyx Pharmaceutical in the second quarter valued at about $125,000. SG Americas Securities LLC bought a new position in Ultragenyx Pharmaceutical in the third quarter valued at about $156,000. Tocqueville Asset Management L.P. lifted its holdings in Ultragenyx Pharmaceutical by 8.0% in the second quarter. Tocqueville Asset Management L.P. now owns 3,375 shares of the biopharmaceutical company’s stock valued at $210,000 after acquiring an additional 250 shares during the period. Pacer Advisors Inc. lifted its holdings in Ultragenyx Pharmaceutical by 12.0% in the second quarter. Pacer Advisors Inc. now owns 3,402 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 365 shares during the period. Finally, Kazazian Asset Management LLC bought a new position in Ultragenyx Pharmaceutical in the second quarter valued at about $213,000. 94.10% of the stock is currently owned by hedge funds and other institutional investors.
RARE has been the topic of a number of recent research reports. Barclays initiated coverage on Ultragenyx Pharmaceutical in a report on Wednesday, September 6th. They issued an “equal weight” rating and a $60.00 target price on the stock. Canaccord Genuity reissued a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 12th. Wedbush raised Ultragenyx Pharmaceutical from a “neutral” rating to an “outperform” rating and set a $62.00 target price on the stock in a report on Thursday, September 14th. Robert W. Baird reissued a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Tuesday, September 19th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $71.00 target price (up previously from $69.00) on shares of Ultragenyx Pharmaceutical in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $72.40.
Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ RARE) opened at $48.03 on Friday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $43.14 and a 1 year high of $91.35. The stock has a market capitalization of $2,050.00, a PE ratio of -6.89 and a beta of 1.83.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.87) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.87). The business had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.02 million. The business’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.64) EPS. analysts expect that Ultragenyx Pharmaceutical Inc. will post -7.27 earnings per share for the current fiscal year.
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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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