Frazier Life Sciences Management L.P. Purchases 208,715 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Frazier Life Sciences Management L.P. boosted its holdings in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 49.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 633,715 shares of the biopharmaceutical company's stock after acquiring an additional 208,715 shares during the quarter. Ultragenyx Pharmaceutical accounts for about 1.4% of Frazier Life Sciences Management L.P.'s investment portfolio, making the stock its 21st biggest position. Frazier Life Sciences Management L.P. owned about 0.69% of Ultragenyx Pharmaceutical worth $35,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC grew its stake in Ultragenyx Pharmaceutical by 103.8% during the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company's stock worth $76,065,000 after buying an additional 942,529 shares during the last quarter. Alkeon Capital Management LLC grew its stake in Ultragenyx Pharmaceutical by 34.3% during the third quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company's stock worth $167,301,000 after buying an additional 769,884 shares during the last quarter. Two Sigma Advisers LP grew its stake in Ultragenyx Pharmaceutical by 123.4% during the third quarter. Two Sigma Advisers LP now owns 987,800 shares of the biopharmaceutical company's stock worth $54,872,000 after buying an additional 545,600 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Ultragenyx Pharmaceutical by 63.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company's stock worth $34,128,000 after buying an additional 323,280 shares during the last quarter. Finally, Ikarian Capital LLC bought a new stake in Ultragenyx Pharmaceutical during the third quarter worth about $9,943,000. Institutional investors own 97.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. TD Cowen upped their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Canaccord Genuity Group reiterated a "buy" rating and set a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated an "overweight" rating and set a $116.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, HC Wainwright upped their target price on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical currently has an average rating of "Moderate Buy" and an average target price of $87.46.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,465 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the transaction, the chief financial officer now directly owns 92,301 shares of the company's stock, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.80% of the company's stock.

Ultragenyx Pharmaceutical Stock Down 0.5 %

RARE stock traded down $0.23 during midday trading on Tuesday, reaching $49.09. The company's stock had a trading volume of 526,754 shares, compared to its average volume of 773,860. Ultragenyx Pharmaceutical Inc. has a 52 week low of $37.02 and a 52 week high of $60.37. The stock has a market cap of $4.53 billion, a PE ratio of -7.59 and a beta of 0.56. The business's 50-day simple moving average is $50.90 and its 200-day simple moving average is $49.06.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million for the quarter, compared to analysts' expectations of $135.28 million. During the same period last year, the firm earned ($2.23) earnings per share. The business's revenue for the quarter was up 42.3% on a year-over-year basis. As a group, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 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.