Franklin Resources Inc. Increases Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Franklin Resources Inc. increased its stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 95.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 427,359 shares of the biopharmaceutical company's stock after buying an additional 208,456 shares during the quarter. Franklin Resources Inc. owned 0.46% of Ultragenyx Pharmaceutical worth $17,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RARE. Van ECK Associates Corp raised its position in Ultragenyx Pharmaceutical by 18.4% in the fourth quarter. Van ECK Associates Corp now owns 1,760 shares of the biopharmaceutical company's stock worth $74,000 after acquiring an additional 273 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Ultragenyx Pharmaceutical by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company's stock worth $928,000 after purchasing an additional 294 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 259.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 683 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 493 shares during the period. M&T Bank Corp lifted its stake in Ultragenyx Pharmaceutical by 8.1% in the third quarter. M&T Bank Corp now owns 6,992 shares of the biopharmaceutical company's stock valued at $388,000 after purchasing an additional 525 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Ultragenyx Pharmaceutical by 2.4% during the fourth quarter. Arizona State Retirement System now owns 24,038 shares of the biopharmaceutical company's stock valued at $1,011,000 after purchasing an additional 568 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, CEO Emil D. Kakkis sold 73,434 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $3,091,571.40. Following the transaction, the chief executive officer now directly owns 641,731 shares in the company, valued at approximately $27,016,875.10. This represents a 10.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Theodore Alan Huizenga sold 967 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $42.10, for a total transaction of $40,710.70. Following the transaction, the chief accounting officer now owns 50,265 shares in the company, valued at $2,116,156.50. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,643 shares of company stock worth $5,256,268. 5.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RARE has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. HC Wainwright reaffirmed a "buy" rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Wedbush reiterated a "neutral" rating and issued a $48.00 target price (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Canaccord Genuity Group upped 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $92.79.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ:RARE traded up $0.98 on Friday, hitting $34.14. The company's stock had a trading volume of 1,103,595 shares, compared to its average volume of 811,190. Ultragenyx Pharmaceutical Inc. has a 1 year low of $29.59 and a 1 year high of $60.37. The company has a market capitalization of $3.21 billion, a PE ratio of -5.38 and a beta of 0.61. The company has a 50-day simple moving average of $39.38 and a 200 day simple moving average of $44.88.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $163.23 million. On average, equities research analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share 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.