Baker BROS. Advisors LP Boosts Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Baker BROS. Advisors LP increased its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,576,114 shares of the biopharmaceutical company’s stock after acquiring an additional 109,567 shares during the quarter. Ultragenyx Pharmaceutical comprises approximately 0.9% of Baker BROS. Advisors LP’s holdings, making the stock its 15th biggest position. Baker BROS. Advisors LP owned about 1.71% of Ultragenyx Pharmaceutical worth $87,553,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after acquiring an additional 942,529 shares in the last quarter. Alkeon Capital Management LLC lifted its holdings in Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock worth $167,301,000 after purchasing an additional 769,884 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Ultragenyx Pharmaceutical by 63.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock worth $34,128,000 after purchasing an additional 323,280 shares during the period. Finally, First Light Asset Management LLC grew its holdings in Ultragenyx Pharmaceutical by 21.8% during the 2nd quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company’s stock valued at $39,585,000 after buying an additional 172,700 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Wall Street Analyst Weigh In

RARE has been the topic of several research analyst reports. Barclays lowered their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.46.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,556 shares of company stock valued at $1,515,967 over the last 90 days. Insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Stock Down 1.0 %

Shares of RARE opened at $47.63 on Monday. The business has a fifty day moving average of $52.04 and a 200 day moving average of $48.72. The company has a market cap of $4.40 billion, a PE ratio of -7.36 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a 52-week low of $37.02 and a 52-week high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same quarter last year, the business earned ($2.23) EPS. The business’s revenue was up 42.3% on a year-over-year basis. As a group, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Ultragenyx Pharmaceutical 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.