Baker BROS. Advisors LP Purchases 109,567 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

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

A number of other institutional investors have also added to or reduced their stakes in the business. Alkeon Capital Management LLC lifted its position in shares of 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 during the period. Federated Hermes Inc. raised its stake in Ultragenyx Pharmaceutical by 8.7% in the second quarter. Federated Hermes Inc. now owns 2,107,025 shares of the biopharmaceutical company’s stock worth $86,599,000 after buying an additional 168,345 shares in the last quarter. Millennium Management LLC raised its stake in Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after buying an additional 942,529 shares in the last quarter. Marshall Wace LLP lifted its holdings in Ultragenyx Pharmaceutical by 16.9% during the second quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock worth $46,570,000 after buying an additional 164,110 shares during the period. Finally, First Light Asset Management LLC boosted its position 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 acquiring an additional 172,700 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Down 1.0 %

Shares of Ultragenyx Pharmaceutical stock opened at $47.63 on Monday. The firm’s 50 day simple moving average is $52.04 and its two-hundred day simple moving average is $48.72. Ultragenyx Pharmaceutical Inc. has a 12-month low of $37.02 and a 12-month high of $60.37. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -7.36 and a beta of 0.58.

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

Insider Activity

In related news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the sale, the chief financial officer now owns 92,301 shares in the company, valued at approximately $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. This trade represents a 0.89 % decrease in their position. 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 in the last quarter. 5.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays reduced their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Royal Bank of Canada reissued an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. TD Cowen lifted their price objective 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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 research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.