Pictet Asset Management Holding SA Has $49.38 Million Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Pictet Asset Management Holding SA grew its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 125.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,173,638 shares of the biopharmaceutical company’s stock after purchasing an additional 653,088 shares during the period. Pictet Asset Management Holding SA’s holdings in Ultragenyx Pharmaceutical were worth $49,375,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Ultragenyx Pharmaceutical by 259.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 493 shares in the last quarter. True Wealth Design LLC acquired a new position in Ultragenyx Pharmaceutical during the third quarter valued at $43,000. Human Investing LLC purchased a new stake in Ultragenyx Pharmaceutical in the 4th quarter worth about $42,000. Wilmington Savings Fund Society FSB acquired a new stake in Ultragenyx Pharmaceutical during the 3rd quarter worth about $83,000. Finally, Nomura Asset Management Co. Ltd. purchased a new position in Ultragenyx Pharmaceutical during the 3rd quarter valued at about $93,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Ultragenyx Pharmaceutical Stock Performance

RARE opened at $37.82 on Friday. The firm has a market cap of $3.50 billion, a P/E ratio of -5.97 and a beta of 0.67. The business has a 50 day moving average price of $41.64 and a 200 day moving average price of $46.84. Ultragenyx Pharmaceutical Inc. has a twelve month low of $36.71 and a twelve month high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The firm had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. As a group, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on RARE. Canaccord Genuity Group raised their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wedbush reiterated a “neutral” rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.79.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 1,785 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $40.40, for a total value of $72,114.00. Following the completion of the sale, the chief financial officer now directly owns 106,169 shares of the company’s stock, valued at approximately $4,289,227.60. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Richard Pinion sold 14,439 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $607,881.90. Following the transaction, the insider now directly owns 107,766 shares in the company, valued at $4,536,948.60. This trade represents a 11.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,370 shares of company stock worth $5,751,499. Company insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.