Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 35.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 653,660 shares of the biopharmaceutical company's stock after buying an additional 172,711 shares during the period. Point72 Asset Management L.P. owned 0.71% of Ultragenyx Pharmaceutical worth $36,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkman Healthcare Partners LLC grew its position in Ultragenyx Pharmaceutical by 9.5% in the third quarter. Parkman Healthcare Partners LLC now owns 109,468 shares of the biopharmaceutical company's stock worth $6,081,000 after acquiring an additional 9,468 shares in the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of Ultragenyx Pharmaceutical by 0.3% in the 3rd quarter. Motley Fool Asset Management LLC now owns 141,649 shares of the biopharmaceutical company's stock worth $8,005,000 after purchasing an additional 360 shares during the period. Ikarian Capital LLC bought a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at approximately $9,943,000. Benjamin Edwards Inc. purchased a new stake in Ultragenyx Pharmaceutical during the 3rd quarter valued at $338,000. Finally, Baker BROS. Advisors LP lifted its position in Ultragenyx Pharmaceutical by 7.5% in the third quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company's stock worth $87,553,000 after buying an additional 109,567 shares during the last quarter. 97.67% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Howard Horn sold 7,465 shares of the company's stock in a transaction dated Thursday, October 10th. The stock was 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 represents a 7.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.80% of the company's stock.

Ultragenyx Pharmaceutical Stock Up 4.3 %

RARE stock traded up $2.04 during trading on Friday, hitting $49.38. 815,449 shares of the company's stock traded hands, compared to its average volume of 774,882. The firm has a market capitalization of $4.56 billion, a P/E ratio of -7.63 and a beta of 0.56. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37. The business has a fifty day simple moving average of $51.17 and a two-hundred day simple moving average of $48.82.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results 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 return on equity of 187.12% and a negative net margin of 106.93%. The business had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same period last year, the business posted ($2.23) EPS. The business's revenue was up 42.3% compared to the same quarter last year. On average, equities research analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen boosted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Canaccord Genuity Group reiterated a "buy" rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price objective on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating for the company in a research note on Thursday, November 21st. HC Wainwright upped their target price on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.46.

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.