Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. opened a new position in Ultragenyx Pharmaceutical, buying 61,329 shares valued at about $1.41 million in the fourth quarter.
• Ultragenyx missed Q1 earnings and revenue expectations, reporting EPS of -$1.84 versus -$1.49 expected and revenue of $136 million versus $158.19 million expected.
• Despite some analyst optimism, recent sentiment is mixed: insiders sold shares and the stock has a consensus rating of “Moderate Buy” with a price target of $59.88, well above its recent trading level.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 61,329 shares of the biopharmaceutical company's stock, valued at approximately $1,411,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned 0.06% of Ultragenyx Pharmaceutical as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 1,706.7% during the 3rd quarter. Assetmark Inc. now owns 1,084 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 1,024 shares in the last quarter. Huntington National Bank grew its stake in shares of Ultragenyx Pharmaceutical by 56.2% during the 3rd quarter. Huntington National Bank now owns 1,092 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 393 shares in the last quarter. Danske Bank A S bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter worth approximately $39,000. Smartleaf Asset Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 205.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,738 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 1,169 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Ultragenyx Pharmaceutical by 26.0% during the 3rd quarter. Covestor Ltd now owns 1,787 shares of the biopharmaceutical company's stock worth $54,000 after acquiring an additional 369 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

Ultragenyx Pharmaceutical Trading Down 1.3%

NASDAQ:RARE opened at $23.39 on Friday. Ultragenyx Pharmaceutical Inc. has a 1-year low of $18.29 and a 1-year high of $42.37. The firm has a fifty day simple moving average of $23.22 and a 200 day simple moving average of $26.12. The stock has a market capitalization of $2.30 billion, a PE ratio of -3.83 and a beta of 0.39.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The firm had revenue of $136.00 million during the quarter, compared to the consensus estimate of $158.19 million. During the same period in the prior year, the business posted ($1.57) earnings per share. Ultragenyx Pharmaceutical's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -4.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, EVP Erik Harris sold 10,539 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $22.80, for a total transaction of $240,289.20. Following the completion of the transaction, the executive vice president directly owned 89,515 shares of the company's stock, valued at $2,040,942. The trade was a 10.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 54,404 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $22.80, for a total transaction of $1,240,411.20. Following the transaction, the chief executive officer directly owned 658,994 shares of the company's stock, valued at approximately $15,025,063.20. This trade represents a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 117,262 shares of company stock valued at $2,687,403 in the last ninety days. 5.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RARE shares. Wells Fargo & Company raised their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group cut shares of Ultragenyx Pharmaceutical from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $61.00 to $25.00 in a research note on Tuesday, March 24th. JPMorgan Chase & Co. decreased their price target on shares of Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating for the company in a research note on Thursday, March 12th. Barclays decreased their target price on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.88.

Ultragenyx Pharmaceutical 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.

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