Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Bought by Alkeon Capital Management LLC

Alkeon Capital Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 34.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,011,716 shares of the biopharmaceutical company’s stock after purchasing an additional 769,884 shares during the period. Alkeon Capital Management LLC owned approximately 3.26% of Ultragenyx Pharmaceutical worth $167,301,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RARE. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $17,468,000. Algert Global LLC boosted its position in shares of Ultragenyx Pharmaceutical by 46.9% in the 3rd quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock valued at $4,105,000 after purchasing an additional 23,580 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in Ultragenyx Pharmaceutical in the 1st quarter worth about $691,000. Candriam S.C.A. raised its holdings in Ultragenyx Pharmaceutical by 33.1% during the 2nd quarter. Candriam S.C.A. now owns 688,942 shares of the biopharmaceutical company’s stock worth $28,314,000 after buying an additional 171,345 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Ultragenyx Pharmaceutical by 47.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 73,289 shares of the biopharmaceutical company’s stock valued at $3,012,000 after buying an additional 23,752 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Insider Buying and Selling at Ultragenyx Pharmaceutical

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

Ultragenyx Pharmaceutical Stock Up 1.6 %

Shares of RARE opened at $48.13 on Friday. Ultragenyx Pharmaceutical Inc. has a 12 month low of $37.02 and a 12 month high of $60.37. The company’s fifty day moving average is $52.26 and its 200-day moving average is $48.57. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -7.44 and a beta of 0.58.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RARE. TD Cowen lifted their target price on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company boosted their target price on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wedbush raised their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Canaccord Genuity Group reissued a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.46.

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.