Pictet Asset Management Ltd. increased its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 41.7% during the second quarter, Holdings Channel reports. The fund owned 589,211 shares of the biopharmaceutical company’s stock after buying an additional 173,433 shares during the period. Pictet Asset Management Ltd.’s holdings in Ultragenyx Pharmaceutical were worth $31,729,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RARE. Ameritas Investment Partners Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 3.7% in the first quarter. Ameritas Investment Partners Inc. now owns 3,226 shares of the biopharmaceutical company’s stock valued at $219,000 after buying an additional 115 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Ultragenyx Pharmaceutical by 5.8% in the first quarter. Prudential Financial Inc. now owns 3,660 shares of the biopharmaceutical company’s stock valued at $248,000 after buying an additional 200 shares during the last quarter. Amalgamated Bank raised its stake in shares of Ultragenyx Pharmaceutical by 4.6% in the first quarter. Amalgamated Bank now owns 4,628 shares of the biopharmaceutical company’s stock valued at $314,000 after buying an additional 202 shares during the last quarter. Aperio Group LLC raised its stake in shares of Ultragenyx Pharmaceutical by 8.4% in the second quarter. Aperio Group LLC now owns 3,851 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 299 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Ultragenyx Pharmaceutical by 10.7% in the first quarter. Strs Ohio now owns 3,100 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.

Ultragenyx Pharmaceutical Inc. (NASDAQ RARE) opened at 62.78 on Thursday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $51.67 and a 52 week high of $91.35. The company has a 50 day moving average of $65.33 and a 200 day moving average of $67.28. The stock’s market capitalization is $2.67 billion.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.72) EPS for the quarter, beating analysts’ consensus estimates of ($1.73) by $0.01. During the same period in the prior year, the company earned ($1.46) EPS. Equities analysts expect that Ultragenyx Pharmaceutical Inc. will post ($7.24) EPS for the current fiscal year.

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Several brokerages have issued reports on RARE. Jefferies Group LLC reiterated a “hold” rating and set a $68.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Friday, July 14th. SunTrust Banks, Inc. lifted their target price on shares of Ultragenyx Pharmaceutical from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Wedbush lowered shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $75.00 in a research report on Wednesday, April 19th. Canaccord Genuity reiterated a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Monday, May 8th. Finally, HC Wainwright lowered shares of Ultragenyx Pharmaceutical from a “buy” rating to a “neutral” rating and dropped their target price for the company from $88.00 to $72.00 in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $84.87.

In related news, VP Theodore Alan Huizenga sold 480 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $57.46, for a total value of $27,580.80. Following the completion of the sale, the vice president now directly owns 9,366 shares in the company, valued at $538,170.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 9.20% of the stock is owned by company insiders.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a clinical-stage biopharmaceutical company. The Company is focused on the identification, acquisition, development, and commercialization of products for the treatment of genetic diseases. Its clinical-stage pipeline consists of two product categories: biologics (including a monoclonal antibody and an enzyme replacement therapy), and small-molecule substrate replacement therapies.

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

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