Teachers Retirement System of The State of Kentucky Boosts Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Teachers Retirement System of The State of Kentucky raised its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RAREGet Rating) by 32.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 72,438 shares of the biopharmaceutical company’s stock after acquiring an additional 17,857 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Ultragenyx Pharmaceutical were worth $5,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Ultragenyx Pharmaceutical by 0.7% during the first quarter. Vanguard Group Inc. now owns 5,963,374 shares of the biopharmaceutical company’s stock valued at $433,060,000 after purchasing an additional 42,806 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Ultragenyx Pharmaceutical by 17.1% in the first quarter. Wellington Management Group LLP now owns 3,370,245 shares of the biopharmaceutical company’s stock valued at $244,747,000 after buying an additional 492,842 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Ultragenyx Pharmaceutical by 3.1% in the first quarter. Clearbridge Investments LLC now owns 2,863,921 shares of the biopharmaceutical company’s stock valued at $207,978,000 after buying an additional 85,062 shares during the last quarter. State Street Corp raised its position in shares of Ultragenyx Pharmaceutical by 16.1% in the first quarter. State Street Corp now owns 1,948,684 shares of the biopharmaceutical company’s stock valued at $141,513,000 after buying an additional 269,843 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Ultragenyx Pharmaceutical by 13.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,308,156 shares of the biopharmaceutical company’s stock valued at $110,003,000 after buying an additional 152,002 shares during the last quarter. 88.27% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $46.03 on Friday. The firm has a market cap of $3.22 billion, a PE ratio of -6.29 and a beta of 1.23. The company has a 50-day moving average of $51.87 and a two-hundred day moving average of $59.21. Ultragenyx Pharmaceutical Inc. has a 1-year low of $44.76 and a 1-year high of $99.79.

Ultragenyx Pharmaceutical (NASDAQ:RAREGet Rating) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported ($2.26) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($0.54). The company had revenue of $89.34 million for the quarter, compared to analysts’ expectations of $87.33 million. Ultragenyx Pharmaceutical had a negative return on equity of 60.76% and a negative net margin of 151.34%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned ($1.45) EPS. Sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -8.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Ultragenyx Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Tuesday, June 21st. Citigroup reduced their target price on shares of Ultragenyx Pharmaceutical from $146.00 to $142.00 in a research report on Wednesday, August 3rd. Piper Sandler reduced their target price on shares of Ultragenyx Pharmaceutical from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Barclays cut their price objective on shares of Ultragenyx Pharmaceutical from $141.00 to $105.00 in a research report on Friday, July 29th. Finally, Evercore ISI cut their price objective on shares of Ultragenyx Pharmaceutical to $60.00 in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.58.

About Ultragenyx Pharmaceutical

(Get Rating)

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, 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.

Further Reading

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:RAREGet Rating).

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

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