EFG Asset Management North America Corp. Boosts Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

EFG Asset Management North America Corp. raised its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,443 shares of the biopharmaceutical company’s stock after buying an additional 30,055 shares during the period. Ultragenyx Pharmaceutical comprises approximately 0.8% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 28th biggest position. EFG Asset Management North America Corp. owned 0.15% of Ultragenyx Pharmaceutical worth $5,863,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of RARE. Alkeon Capital Management LLC grew its position 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 valued at $167,301,000 after acquiring an additional 769,884 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Ultragenyx Pharmaceutical by 123.4% in the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company’s stock worth $54,872,000 after purchasing an additional 545,600 shares during the last quarter. Fisher Asset Management LLC purchased a new position in Ultragenyx Pharmaceutical in the 4th quarter worth about $11,156,000. Prudential Financial Inc. lifted its holdings in Ultragenyx Pharmaceutical by 659.5% during the 4th quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company’s stock valued at $11,483,000 after buying an additional 237,003 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. boosted its position in Ultragenyx Pharmaceutical by 49.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 633,715 shares of the biopharmaceutical company’s stock valued at $35,203,000 after buying an additional 208,715 shares during the period. Institutional investors own 97.67% of the company’s stock.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, insider John Richard Pinion sold 14,439 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $607,881.90. Following the sale, the insider now directly owns 107,766 shares of the company’s stock, valued at $4,536,948.60. The trade was a 11.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 11,727 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the transaction, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 136,370 shares of company stock worth $5,751,499. Insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

RARE has been the subject of several research analyst reports. Canaccord Genuity Group lifted their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Wedbush reaffirmed a “neutral” rating and set a $48.00 target price (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Wells Fargo & Company upped their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.71.

Ultragenyx Pharmaceutical Stock Up 0.5 %

Shares of RARE opened at $39.36 on Tuesday. The company has a 50 day moving average of $41.81 and a two-hundred day moving average of $47.26. Ultragenyx Pharmaceutical Inc. has a twelve month low of $37.02 and a twelve month high of $60.37. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -6.21 and a beta of 0.67.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.07). Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. The business had revenue of $164.88 million during the quarter, compared to analyst estimates of $163.23 million. On average, sell-side analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current 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.