Algert Global LLC Acquires 23,580 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Algert Global LLC grew its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 46.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 73,902 shares of the biopharmaceutical company’s stock after purchasing an additional 23,580 shares during the period. Algert Global LLC’s holdings in Ultragenyx Pharmaceutical were worth $4,105,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RARE. Millennium Management LLC boosted its position 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 valued at $76,065,000 after buying an additional 942,529 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Ultragenyx Pharmaceutical by 63.8% during 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 acquiring an additional 323,280 shares during the last quarter. Artal Group S.A. acquired a new position in Ultragenyx Pharmaceutical in the 1st quarter worth about $8,308,000. Finally, First Light Asset Management LLC raised its position in Ultragenyx Pharmaceutical by 21.8% in the second quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company’s stock valued at $39,585,000 after purchasing an additional 172,700 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RARE. TD Cowen upped their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price target 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 boosted their price objective on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $87.46.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Horn sold 7,465 shares of the business’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 of the company’s stock, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,556 shares of company stock valued at $1,515,967 in the last 90 days. 5.80% of the stock is currently owned by corporate insiders.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $47.12 on Tuesday. The firm has a market cap of $4.35 billion, a PE ratio of -7.28 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. The business’s 50 day moving average price is $53.14 and its two-hundred day moving average price is $48.49.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued 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. The business had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. Ultragenyx Pharmaceutical’s revenue was up 42.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.23) earnings per share. Research analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.21 EPS for the current fiscal year.

About Ultragenyx Pharmaceutical

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.