Palo Alto Investors LP Purchases Shares of 596,495 Ultragenyx Pharmaceutical Inc. $RARE

Palo Alto Investors LP purchased a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 596,495 shares of the biopharmaceutical company’s stock, valued at approximately $19,916,968,000. Ultragenyx Pharmaceutical comprises 2.8% of Palo Alto Investors LP’s investment portfolio, making the stock its 12th biggest position.

Several other large investors have also modified their holdings of the business. Jefferies Financial Group Inc. acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter valued at $31,040,000. Capstone Investment Advisors LLC purchased a new position in Ultragenyx Pharmaceutical during the second quarter worth $549,000. Corient Private Wealth LP acquired a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $4,644,000. Bank of America Corp DE acquired a new position in shares of Ultragenyx Pharmaceutical in the second quarter worth $38,347,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the second quarter valued at $62,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on RARE shares. Citigroup raised their price target on shares of Ultragenyx Pharmaceutical from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Monday, August 10th. Royal Bank Of Canada raised their target price on shares of Ultragenyx Pharmaceutical from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Wedbush lowered their target price on shares of Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Finally, Guggenheim lowered their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.22.

Insider Activity

In other news, CFO Howard Horn sold 4,653 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the sale, the chief financial officer owned 105,689 shares in the company, valued at $2,512,227.53. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Karah Herdman Parschauer sold 1,899 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the sale, the executive vice president directly owned 94,462 shares in the company, valued at $2,325,654.44. This trade represents a 1.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 8,552 shares of company stock valued at $207,455. Company insiders own 5.20% of the company’s stock.

Ultragenyx Pharmaceutical Stock Performance

RARE opened at $26.26 on Friday. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $39.89. The firm has a 50 day moving average price of $28.59 and a 200 day moving average price of $25.03. The company has a market cap of $2.59 billion, a PE ratio of -4.50 and a beta of 0.35.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The firm had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same period in the previous year, the company posted ($1.17) earnings per share. Ultragenyx Pharmaceutical’s revenue was up 28.5% compared to the same quarter last year. On average, sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -3.99 earnings per share for the current year.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.