On September 24, 2023, it was reported that WCM Investment Management LLC had increased its position in Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) by 7.7% during the second quarter. According to the company’s recent filing with the Securities and Exchange Commission (SEC), it now owns 105,305 shares of Ultragenyx Pharmaceutical’s stock, acquiring an additional 7,488 shares during the period. This brings their total ownership to approximately 0.15% of the company’s worth, valued at $4,867,000 based on the most recent SEC filing.
Ultragenyx Pharmaceutical is a biopharmaceutical company that focuses primarily on developing treatments for rare genetic diseases. However, its most recent earnings results showed some challenges. In its report for the second quarter on August 3rd, Ultragenyx Pharmaceutical disclosed that it had an earnings per share (EPS) of ($2.25), falling short of the consensus estimate of ($2.11) by ($0.14). The negative EPS reflects a negative return on equity of 220.54% and a negative net margin of 178.91%. Despite this setback, Ultragenyx Pharmaceutical experienced a revenue increase of 21.3% compared to the same quarter last year, generating $108.30 million in revenue against a consensus estimate of $107.10 million.
Analysts predict that Ultragenyx Pharmaceutical Inc.’s EPS for the current fiscal year will be -8.65 based on their expectations and forecasts.
Recent transactions involving insiders were also disclosed by Ultragenyx Pharmaceutical Inc., shedding light on changes within the organization’s leadership team and ownership structure. EVP Erik Harris sold 6,000 shares of stock for a total transaction value of $227,760 on September 5th at an average price per share of $37.96. Following this sale, Harris now holds 51,281 shares in the company with an estimated value of $1,946,626.76. CAO Theodore Alan Huizenga also sold 2,163 shares of stock for a total transaction value of $88,250.40 on September 7th at an average price per share of $40.80. Huizenga currently possesses 23,614 shares valued at $963,451.20.
Insider transactions can provide insights into the sentiment and confidence of those closely involved in the company’s affairs. In the past 90 days alone, insiders have sold a total of 9,718 shares worth $379,401, indicating that key personnel may be readjusting their positions or making strategic moves.
It is important to note that insider activities do not necessarily signify positive or negative outcomes for a company’s future performance and valuation. However, they offer valuable information for investors and analysts who monitor these activities to help inform their investment decisions.
For further details on these transactions and up-to-date information regarding Ultragenyx Pharmaceutical Inc.’s financial performance and ownership structure, interested parties can access the Securities & Exchange Commission filing via this link: [SEC filing hyperlink].
As we await further developments and updates from Ultragenyx Pharmaceutical Inc., it will be interesting to observe how these recent events impact the company’s overall trajectory moving forward.
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Ultragenyx Pharmaceutical Inc. Continues to Attract Institutional Investors and Gains Positive Analyst Assessments
As of September 24, 2023, Ultragenyx Pharmaceutical Inc. continues to attract the attention of institutional investors and hedge funds, as evidenced by recent changes in their positions. China Universal Asset Management Co. Ltd., for instance, has increased its stake in the biopharmaceutical company by 33.6% during the first quarter. This move saw them acquire an additional 239 shares, bringing their total ownership to 951 shares valued at $38,000.
It is not only China Universal Asset Management Co. Ltd. that has shown confidence in Ultragenyx Pharmaceutical’s potential. Quadrant Capital Group LLC also decided to lift its stake by a substantial 111.4% during the fourth quarter, purchasing an extra 487 shares worth $43,000. Similarly, Lazard Asset Management LLC increased its stake by 36.6% in the first quarter through the acquisition of an additional 240 shares valued at $64,000.
In addition to these institutional investors, Systematic Financial Management LP and Neo Ivy Capital Management also opened new positions in Ultragenyx Pharmaceutical during the first and fourth quarters respectively. Systematic Financial Management LP invested approximately $107,000 while Neo Ivy Capital Management allocated around $141,000 towards this biopharmaceutical company.
These investments highlight the interest and confidence that institutional investors have in Ultragenyx Pharmaceutical’s future prospects within the industry.
When analyzing Ultragenyx Pharmaceutical’s stock performance on NASDAQ RARE on Friday, September 24th , it opened at $36.43 per share. The company’s stock demonstrates a price range between its 12-month low of $33.36 and its high of $54.98.
To supplement this data further, several brokerages have issued reports on RARE (Ultragenyx Pharmaceutical). HC Wainwright reiterated a “buy” rating with a price target of $82.00 in a research report on August 1st. Evercore ISI upgraded the company’s rating from “in-line” to “outperform” and raised their price target from $60.00 to $80.00 in a research report on June 6th. StockNews.com began coverage with a “hold” rating, while Morgan Stanley reaffirmed an “overweight” rating and set a price target of $95.00 in their research report on August 4th. Finally, Wedbush decreased their price target from $49.00 to $47.00 in a research report on August 4th.
With three analysts issuing hold ratings and nine assigning buy ratings, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy,” according to data obtained from Bloomberg.com. The average target price for the stock stands at $81.21.
All of these developments are significant indicators of Ultragenyx Pharmaceutical’s potential growth and resilience within the biopharmaceutical industry, attracting notable investments and positive assessments from expert analyses.
