Franklin Resources Inc. lessened its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 25.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,903 shares of the biopharmaceutical company's stock after selling 74,991 shares during the quarter. Franklin Resources Inc. owned about 0.24% of Ultragenyx Pharmaceutical worth $12,300,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in RARE. Millennium Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 103.8% during the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company's stock valued at $76,065,000 after acquiring an additional 942,529 shares during the last quarter. Alkeon Capital Management LLC lifted its position 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 valued at $167,301,000 after purchasing an additional 769,884 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Ultragenyx Pharmaceutical by 123.4% in the 3rd 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 in the last quarter. Frazier Life Sciences Management L.P. purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth $17,468,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Ultragenyx Pharmaceutical by 63.8% in the 2nd 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. Institutional investors own 97.67% of the company's stock.
NASDAQ RARE opened at $44.22 on Friday. The stock has a market cap of $4.08 billion, a PE ratio of -6.83 and a beta of 0.56. Ultragenyx Pharmaceutical Inc. has a 12 month low of $37.02 and a 12 month high of $60.37. The company's 50-day moving average price is $49.53 and its 200-day moving average price is $49.25.
Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping analysts' consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company's revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.23) EPS. As a group, sell-side analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current year.
A number of research analysts recently commented on the stock. HC Wainwright increased their price target on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, November 21st. Wells Fargo & Company boosted their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday. TD Cowen raised their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.46.
Get Our Latest Stock Analysis on RARE
In related news, CEO Emil D. Kakkis sold 8,273 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total value of $413,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,195,712 shares of the company's stock, valued at $109,785,600. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the firm's stock in a transaction dated 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 in the company, valued at $4,869,800.76. This trade represents a 7.48 % decrease in their position. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.
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.
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