Ikarian Capital LLC Acquires Shares of 179,000 Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Ikarian Capital LLC acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 179,000 shares of the biopharmaceutical company’s stock, valued at approximately $9,943,000. Ultragenyx Pharmaceutical makes up about 1.3% of Ikarian Capital LLC’s portfolio, making the stock its 13th largest position.

Several other large investors also recently bought and sold shares of the stock. UMB Bank n.a. boosted its stake in Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 352 shares in the last quarter. Arizona State Retirement System boosted its stake in Ultragenyx Pharmaceutical by 2.1% in the second quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after acquiring an additional 434 shares in the last quarter. KBC Group NV boosted its stake in Ultragenyx Pharmaceutical by 24.5% in the third quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 506 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Ultragenyx Pharmaceutical by 13.4% during the second quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company’s stock worth $242,000 after buying an additional 696 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the third quarter worth about $43,000. Institutional investors and hedge funds own 97.67% of the company’s stock.

Insider Transactions at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $4,869,800.76. This trade represents a 7.48 % 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 this hyperlink. Corporate insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RARE. HC Wainwright increased their target price on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Barclays decreased their target price on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. JPMorgan Chase & Co. decreased their target price 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $77.00 target price 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $87.46.

Ultragenyx Pharmaceutical Trading Down 0.4 %

Ultragenyx Pharmaceutical stock traded down $0.20 during mid-day trading on Tuesday, reaching $47.40. The company had a trading volume of 12,131 shares, compared to its average volume of 773,504. Ultragenyx Pharmaceutical Inc. has a 1 year low of $37.02 and a 1 year high of $60.37. The stock’s 50-day simple moving average is $51.84 and its 200-day simple moving average is $48.75.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping 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 analysts’ expectations of $135.28 million. During the same period last year, the company posted ($2.23) EPS. The company’s revenue was up 42.3% on a year-over-year basis. On average, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.2 EPS 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.