Lazard Asset Management LLC Buys 796 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Lazard Asset Management LLC raised its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 107.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,539 shares of the biopharmaceutical company’s stock after acquiring an additional 796 shares during the period. Lazard Asset Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of RARE. Teacher Retirement System of Texas lifted its stake in Ultragenyx Pharmaceutical by 32.7% during the 1st quarter. Teacher Retirement System of Texas now owns 6,813 shares of the biopharmaceutical company’s stock valued at $776,000 after acquiring an additional 1,679 shares during the period. UBS Group AG lifted its stake in Ultragenyx Pharmaceutical by 79.6% during the 1st quarter. UBS Group AG now owns 49,629 shares of the biopharmaceutical company’s stock valued at $5,651,000 after acquiring an additional 22,002 shares during the period. E Fund Management Co. Ltd. bought a new position in Ultragenyx Pharmaceutical during the 1st quarter valued at about $124,000. JPMorgan Chase & Co. lifted its stake in Ultragenyx Pharmaceutical by 32.4% during the 1st quarter. JPMorgan Chase & Co. now owns 306,479 shares of the biopharmaceutical company’s stock valued at $34,896,000 after acquiring an additional 75,049 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in Ultragenyx Pharmaceutical by 37.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 4,351 shares of the biopharmaceutical company’s stock valued at $488,000 after acquiring an additional 1,182 shares during the period. Institutional investors and hedge funds own 95.57% of the company’s stock.

Shares of RARE opened at $81.08 on Thursday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $76.78 and a 1 year high of $179.65. The company has a 50 day simple moving average of $91.72 and a two-hundred day simple moving average of $96.87. The firm has a market cap of $5.50 billion, a P/E ratio of -15.18 and a beta of 1.83.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Sunday, August 1st. The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.53). Ultragenyx Pharmaceutical had a negative net margin of 97.79% and a negative return on equity of 40.48%. The company had revenue of $86.98 million for the quarter, compared to analysts’ expectations of $85.88 million. During the same period last year, the business earned $0.41 earnings per share. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. As a group, equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -6.76 EPS for the current year.

RARE has been the subject of several research reports. UBS Group initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Thursday, August 19th. They set a “sell” rating and a $73.00 price target for the company. HC Wainwright initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Thursday, September 30th. They set a “buy” rating and a $106.00 price target for the company. SVB Leerink reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, October 5th. Zacks Investment Research lowered shares of Ultragenyx Pharmaceutical from a “hold” rating to a “strong sell” rating and set a $92.00 price target for the company. in a research report on Wednesday, July 14th. Finally, TheStreet lowered shares of Ultragenyx Pharmaceutical from a “c-” rating to a “d” rating in a research report on Tuesday, August 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of “Buy” and a consensus price target of $132.78.

In other Ultragenyx Pharmaceutical news, EVP Camille L. Bedrosian sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $100.03, for a total transaction of $250,075.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karah Herdman Parschauer sold 7,336 shares of the stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $100.65, for a total value of $738,368.40. Following the transaction, the executive vice president now owns 36,004 shares of the company’s stock, valued at $3,623,802.60. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.

Ultragenyx Pharmaceutical Profile

Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. Mepsevii is an intravenous, which is used for the treatment of Mucopolysaccharidosis VII.

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

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