State of New Jersey Common Pension Fund D Purchases 11,745 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

State of New Jersey Common Pension Fund D lifted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 33.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,514 shares of the biopharmaceutical company’s stock after purchasing an additional 11,745 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Ultragenyx Pharmaceutical were worth $1,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in RARE. True Wealth Design LLC bought a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth $43,000. Van ECK Associates Corp boosted its position in shares of Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 273 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at about $83,000. Nomura Asset Management Co. Ltd. bought a new position in Ultragenyx Pharmaceutical during the third quarter worth about $93,000. Finally, R Squared Ltd bought a new position in Ultragenyx Pharmaceutical during the fourth quarter worth about $103,000. Institutional investors own 97.67% of the company’s stock.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Stock Down 1.8 %

NASDAQ:RARE opened at $41.84 on Tuesday. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The stock’s 50-day simple moving average is $43.07 and its 200 day simple moving average is $49.36. The firm has a market capitalization of $3.87 billion, a PE ratio of -6.60 and a beta of 0.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). The company had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. On average, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RARE. Piper Sandler increased their target price on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Canaccord Genuity Group boosted their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $93.50.

About Ultragenyx Pharmaceutical

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.