Alkeon Capital Management LLC Buys 769,884 Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Alkeon Capital Management LLC boosted its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 34.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,011,716 shares of the biopharmaceutical company’s stock after buying an additional 769,884 shares during the quarter. Alkeon Capital Management LLC’s holdings in Ultragenyx Pharmaceutical were worth $167,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RARE. nVerses Capital LLC bought a new stake in shares of Ultragenyx Pharmaceutical during the second quarter valued at approximately $33,000. UMB Bank n.a. boosted its stake in Ultragenyx Pharmaceutical by 58.1% during the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 352 shares in the last quarter. Values First Advisors Inc. bought a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at $56,000. Capital Performance Advisors LLP acquired a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at $107,000. Finally, Quest Partners LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter valued at $119,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Trading Up 1.6 %

RARE opened at $48.13 on Friday. Ultragenyx Pharmaceutical Inc. has a 1-year low of $37.02 and a 1-year high of $60.37. The firm has a 50-day moving average price of $52.26 and a two-hundred day moving average price of $48.57. The stock has a market capitalization of $4.44 billion, a PE ratio of -7.44 and a beta of 0.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share 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 business had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same quarter last year, the business posted ($2.23) earnings per share. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% compared to the same quarter last year. On average, research analysts predict that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays lowered their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Wells Fargo & Company upped their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Wedbush raised their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. Finally, HC Wainwright lifted their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.46.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the company’s 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 sale, the chief financial officer now owns 92,301 shares of the company’s stock, valued at $4,869,800.76. The trade was a 7.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,556 shares of company stock valued at $1,515,967 over the last 90 days. 5.80% of the stock is owned by company insiders.

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.