Massachusetts Financial Services Co. MA Raises Stock Holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Massachusetts Financial Services Co. MA lifted its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 46.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 542,373 shares of the biopharmaceutical company’s stock after buying an additional 172,126 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.59% of Ultragenyx Pharmaceutical worth $30,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter worth approximately $33,000. UMB Bank n.a. grew its stake in Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares in the last quarter. Values First Advisors Inc. bought a new position in Ultragenyx Pharmaceutical in the third quarter worth approximately $56,000. Capital Performance Advisors LLP bought a new position in Ultragenyx Pharmaceutical in the third quarter worth approximately $107,000. Finally, Quest Partners LLC bought a new position in Ultragenyx Pharmaceutical in the third quarter worth approximately $119,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RARE has been the topic of several research analyst reports. Barclays dropped their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Wedbush increased their price objective on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.46.

Insider Buying and Selling

In related news, CFO Howard Horn sold 7,465 shares of the firm’s 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, 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 sold 27,556 shares of company stock worth $1,515,967 in the last 90 days. Insiders own 5.80% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $47.12 on Tuesday. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of -7.28 and a beta of 0.58. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37. The business has a fifty day moving average price of $53.14 and a 200-day moving average price of $48.49.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data 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. The firm 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 business’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter last year, the firm earned ($2.23) EPS. On average, equities research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.21 earnings per share for the current fiscal year.

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.