The Manufacturers Life Insurance Company Invests $12.74 Million in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• The Manufacturers Life Insurance Company acquired 381,420 shares of Ultragenyx Pharmaceutical, valued at approximately $12.74 million and representing about 0.39% of the company. Institutional investors and hedge funds collectively own 97.67% of RARE.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $59.44. Recent target increases include Morgan Stanley at $74, Citigroup at $58, and Wells Fargo at $50.
• Ultragenyx reported quarterly revenue of $214 million, exceeding expectations of $183.08 million, while its adjusted loss of $0.90 per share was narrower than forecast. Revenue increased 28.5% year over year, though the company continues to report substantial negative margins.

The Manufacturers Life Insurance Company acquired a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 381,420 shares of the biopharmaceutical company's stock, valued at approximately $12,736,000. The Manufacturers Life Insurance Company owned approximately 0.39% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ultragenyx Pharmaceutical by 14.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company's stock valued at $8,414,000 after purchasing an additional 29,984 shares in the last quarter. Creative Planning acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth $454,000. American Century Companies Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical during the second quarter worth $366,000. M&T Bank Corp grew its holdings in shares of Ultragenyx Pharmaceutical by 19.7% during the second quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company's stock valued at $263,000 after buying an additional 1,192 shares during the last quarter. Finally, Amundi increased its position in shares of Ultragenyx Pharmaceutical by 1,560.4% in the 2nd quarter. Amundi now owns 99,161 shares of the biopharmaceutical company's stock valued at $3,913,000 after acquiring an additional 93,189 shares during the period. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RARE. HC Wainwright restated a "buy" rating and issued a $50.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. Morgan Stanley increased their price objective on Ultragenyx Pharmaceutical from $67.00 to $74.00 and gave the company an "overweight" rating in a report on Friday, August 21st. Citigroup raised their price objective on Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. Wells Fargo & Company lifted their target price on Ultragenyx Pharmaceutical from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Wedbush dropped their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price of $59.44.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $25.61 on Friday. The firm has a market capitalization of $2.52 billion, a P/E ratio of -4.39 and a beta of 0.35. The stock has a 50-day simple moving average of $28.55 and a two-hundred day simple moving average of $25.03. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $18.29 and a fifty-two week high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its 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 firm had revenue of $214.00 million for the quarter, compared to the consensus estimate 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 company's revenue was up 28.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.17) earnings per share. As a group, analysts forecast that Ultragenyx Pharmaceutical Inc. will post -3.97 earnings per share for the current year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 4,653 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $23.77, for a total value of $110,601.81. Following the sale, the chief financial officer owned 105,689 shares in the company, valued at approximately $2,512,227.53. This represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the sale, the executive vice president owned 94,462 shares in the company, valued at approximately $2,325,654.44. This represents a 1.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 8,552 shares of company stock valued at $207,455. 5.20% of the stock is owned by company insiders.

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.

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