Hennion & Walsh Asset Management Inc. Buys 14,159 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Hennion & Walsh Asset Management Inc. lifted its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 40.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,537 shares of the biopharmaceutical company’s stock after purchasing an additional 14,159 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.06% of Ultragenyx Pharmaceutical worth $2,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Woodstock Corp boosted its position in shares of Ultragenyx Pharmaceutical by 38.0% in the 1st quarter. Woodstock Corp now owns 11,124 shares of the biopharmaceutical company’s stock worth $519,000 after purchasing an additional 3,064 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock worth $414,764,000 after purchasing an additional 1,440,264 shares during the last quarter. Avidity Partners Management LP boosted its position in shares of Ultragenyx Pharmaceutical by 55.2% in the 4th quarter. Avidity Partners Management LP now owns 844,500 shares of the biopharmaceutical company’s stock worth $40,384,000 after purchasing an additional 300,500 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in Ultragenyx Pharmaceutical during the fourth quarter worth about $478,000. 97.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RARE shares. Royal Bank of Canada started coverage on Ultragenyx Pharmaceutical in a report on Monday, April 22nd. They set an “outperform” rating and a $77.00 target price on the stock. Canaccord Genuity Group lifted their target price on Ultragenyx Pharmaceutical from $109.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $115.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, June 12th. Robert W. Baird lifted their target price on Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Finally, Bank of America reduced their target price on Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.71.

Ultragenyx Pharmaceutical Stock Performance

RARE traded down $0.32 on Friday, hitting $41.10. 1,581,636 shares of the company were exchanged, compared to its average volume of 1,112,329. Ultragenyx Pharmaceutical Inc. has a 12 month low of $31.52 and a 12 month high of $54.56. The company has a market cap of $3.42 billion, a PE ratio of -5.12 and a beta of 0.60. The stock’s fifty day moving average is $41.29 and its 200-day moving average is $45.05.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.31). The business had revenue of $108.83 million during the quarter, compared to the consensus estimate of $116.03 million. Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 425.63%. Ultragenyx Pharmaceutical’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.33) EPS. As a group, equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.43 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 9,806 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total value of $441,270.00. Following the sale, the executive vice president now owns 57,981 shares in the company, valued at $2,609,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $41.10, for a total transaction of $71,390.70. Following the transaction, the director now owns 7,248 shares in the company, valued at $297,892.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Karah Herdman Parschauer sold 9,806 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total value of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares in the company, valued at approximately $2,609,145. The disclosure for this sale can be found here. Insiders have sold 11,685 shares of company stock worth $518,923 over the last 90 days. Company insiders own 5.80% of the company’s stock.

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.