Bamco Inc. NY Purchases Shares of 48,000 Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Bamco Inc. NY acquired a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 3rd quarter, Holdings Channel reports. The fund acquired 48,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,666,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RARE. Millennium Management LLC boosted its position in shares of Ultragenyx Pharmaceutical by 103.8% in the second quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after acquiring an additional 942,529 shares during the last quarter. Alkeon Capital Management LLC raised 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 purchasing an additional 769,884 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Ultragenyx Pharmaceutical by 63.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 830,375 shares of the biopharmaceutical company’s stock valued at $34,128,000 after buying an additional 323,280 shares during the period. Finally, First Light Asset Management LLC increased its holdings in shares of Ultragenyx Pharmaceutical by 21.8% during the 2nd quarter. First Light Asset Management LLC now owns 963,146 shares of the biopharmaceutical company’s stock worth $39,585,000 after buying an additional 172,700 shares during the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock opened at $46.67 on Wednesday. Ultragenyx Pharmaceutical Inc. has a 12-month low of $37.02 and a 12-month high of $60.37. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of -7.21 and a beta of 0.56. The firm’s fifty day moving average price is $51.63 and its 200 day moving average price is $48.79.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (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 analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The company’s revenue for the quarter was up 42.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.23) earnings per share. Analysts forecast that Ultragenyx Pharmaceutical Inc. will post -6.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the firm’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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RARE has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. TD Cowen boosted their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Canaccord Genuity Group restated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Finally, HC Wainwright increased their price objective 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. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus target price of $87.46.

Ultragenyx Pharmaceutical Company Profile

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.