Norges Bank Invests $40.46 Million in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Norges Bank acquired a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 961,794 shares of the biopharmaceutical company's stock, valued at approximately $40,463,000. Norges Bank owned approximately 1.04% of Ultragenyx Pharmaceutical at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eagle Health Investments LP grew its position in Ultragenyx Pharmaceutical by 11.7% in the 4th quarter. Eagle Health Investments LP now owns 627,600 shares of the biopharmaceutical company's stock valued at $26,403,000 after buying an additional 65,900 shares during the last quarter. EFG Asset Management North America Corp. boosted its position in shares of Ultragenyx Pharmaceutical by 27.5% during the 4th quarter. EFG Asset Management North America Corp. now owns 139,443 shares of the biopharmaceutical company's stock worth $5,863,000 after purchasing an additional 30,055 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $292,000. Prudential Financial Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 659.5% during the 4th quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company's stock worth $11,483,000 after purchasing an additional 237,003 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Ultragenyx Pharmaceutical by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock worth $422,167,000 after purchasing an additional 89,389 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Canaccord Genuity Group lifted their price target on Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. HC Wainwright reaffirmed a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.79.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 25,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $42.48, for a total value of $1,062,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,158,985 shares in the company, valued at approximately $91,713,682.80. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Karah Herdman Parschauer sold 2,990 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $42.88, for a total value of $128,211.20. Following the completion of the transaction, the executive vice president now owns 54,991 shares of the company's stock, valued at $2,358,014.08. The trade was a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,643 shares of company stock valued at $5,256,268. 5.80% of the stock is owned by corporate insiders.

Ultragenyx Pharmaceutical Trading Down 2.7 %

Ultragenyx Pharmaceutical stock traded down $0.91 during mid-day trading on Thursday, reaching $33.00. The company's stock had a trading volume of 124,782 shares, compared to its average volume of 840,680. Ultragenyx Pharmaceutical Inc. has a twelve month low of $29.59 and a twelve month high of $60.37. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -5.21 and a beta of 0.61. The business has a 50 day moving average price of $39.78 and a 200-day moving average price of $45.21.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued 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 net margin of 101.60% and a negative return on equity of 193.80%. The company had revenue of $164.88 million for the quarter, compared to the consensus estimate of $163.23 million. On average, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Ultragenyx Pharmaceutical 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.