Fisher Asset Management LLC Makes New $11.16 Million Investment in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Fisher Asset Management LLC bought a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 265,189 shares of the biopharmaceutical company's stock, valued at approximately $11,156,000. Fisher Asset Management LLC owned 0.29% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Alkeon Capital Management LLC raised its holdings 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 buying an additional 769,884 shares during the period. Two Sigma Advisers LP increased its position in shares of Ultragenyx Pharmaceutical by 123.4% during the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company's stock valued at $54,872,000 after acquiring an additional 545,600 shares during the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of 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 acquiring an additional 208,715 shares during the period. Ikarian Capital LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $9,943,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Ultragenyx Pharmaceutical by 35.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 653,660 shares of the biopharmaceutical company's stock worth $36,311,000 after acquiring an additional 172,711 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company's stock.

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Insider Activity

In related news, EVP Thomas Richard Kassberg sold 6,028 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total value of $253,778.80. Following the completion of the sale, the executive vice president now directly owns 265,238 shares of the company's stock, valued at $11,166,519.80. This represents a 2.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,858 shares of company stock worth $6,093,035. Corporate insiders own 5.80% of the company's stock.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE traded down $1.40 on Friday, hitting $38.62. 724,090 shares of the company's stock were exchanged, compared to its average volume of 781,669. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37. The company has a market capitalization of $3.57 billion, a PE ratio of -6.09 and a beta of 0.60. The firm's 50-day moving average is $42.67 and its 200 day moving average is $48.82.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($1.39) earnings per share for the quarter, missing the consensus estimate of ($1.32) by ($0.07). The business had revenue of $164.88 million for the quarter, compared to analysts' expectations of $163.23 million. Ultragenyx Pharmaceutical had a negative return on equity of 193.80% and a negative net margin of 101.60%. On average, analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RARE. Cantor Fitzgerald reiterated an "overweight" rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday, February 26th. Wedbush reiterated a "neutral" rating and set a $48.00 price target (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. HC Wainwright reissued a "buy" rating and issued a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 14th. Wells Fargo & Company upped their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an "overweight" rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating on the stock in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $93.50.

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.