Tocqueville Asset Management L.P. Acquires New Position in Ultragenyx Pharmaceutical Inc. $RARE

Tocqueville Asset Management L.P. bought a new position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the second quarter, Holdings Channel reports. The institutional investor bought 31,250 shares of the biopharmaceutical company’s stock, valued at approximately $1,043,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC raised its stake in shares of Ultragenyx Pharmaceutical by 778.4% during the first quarter. Parallel Advisors LLC now owns 1,625 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 1,440 shares in the last quarter. Leonteq Securities AG boosted its stake in shares of Ultragenyx Pharmaceutical by 288.5% in the 1st quarter. Leonteq Securities AG now owns 1,795 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,333 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Ultragenyx Pharmaceutical by 662.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 1,001 shares during the last quarter. Danske Bank A S bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC raised its position in Ultragenyx Pharmaceutical by 573.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,167 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 1,845 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Insider Buying and Selling

In related news, CFO Howard Horn sold 4,653 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $23.77, for a total value of $110,601.81. Following the completion of the transaction, the chief financial officer directly owned 105,689 shares of the company’s stock, valued at $2,512,227.53. This represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares in the company, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,552 shares of company stock valued at $207,455 over the last three months. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RARE shares. Wedbush cut their price target on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Cantor Fitzgerald boosted their target price on Ultragenyx Pharmaceutical from $96.00 to $103.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised their price target on Ultragenyx Pharmaceutical from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. Canaccord Genuity Group lifted their price target on Ultragenyx Pharmaceutical from $81.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings raised Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.50.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $25.32 on Friday. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $18.29 and a fifty-two week high of $39.89. The firm has a market cap of $2.50 billion, a P/E ratio of -4.34 and a beta of 0.35. The business’s 50 day moving average price is $28.55 and its 200-day moving average price is $24.97.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32. The company had revenue of $214.00 million during the quarter, compared to analyst estimates of $183.08 million. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 81.79%.The firm’s revenue was up 28.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.17) earnings per share. As a group, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.12 EPS for the current year.

Ultragenyx Pharmaceutical News Roundup

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: FDA approves GENGLYCOS: The FDA granted accelerated approval to GENGLYCOS (pariglasgene brecaparvovec, or DTX401), the first approved treatment designed to address the underlying cause of glycogen storage disease type Ia (GSDIa), a rare metabolic disorder. The approval gives Ultragenyx a potentially important new commercial product and expands its rare-disease portfolio. Reuters article
• Positive Sentiment: Potential long-term revenue opportunity: Analysts cited the gene therapy’s potential to create a “long revenue tailwind,” while the approval may reduce the treatment burden for GSDIa patients. Ultragenyx also received an FDA Priority Review Voucher, which could have strategic or financial value. Yahoo Finance article
• Positive Sentiment: Broad analyst optimism: Cantor Fitzgerald raised its price target to $103 from $96 and maintained an overweight rating. Canaccord Genuity lifted its target to $83 from $81 with a buy rating, while Citi raised its target to $58 from $45 and Wells Fargo to $46 from $45. These targets signal substantial expected upside from the referenced $25.32 share price. Benzinga article
• Neutral Sentiment: The accelerated approval is a significant catalyst, but investors will likely focus next on commercial launch timing, patient adoption, pricing, and required post-approval evidence.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.