69,248 Shares in Ultragenyx Pharmaceutical Inc. $RARE Purchased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. bought a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 69,248 shares of the biopharmaceutical company’s stock, valued at approximately $2,083,000. Thornburg Investment Management Inc. owned 0.07% of Ultragenyx Pharmaceutical as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Ultragenyx Pharmaceutical in the second quarter worth $35,765,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth about $19,106,000. Aberdeen Group plc increased its stake in shares of Ultragenyx Pharmaceutical by 94.3% in the 3rd quarter. Aberdeen Group plc now owns 973,656 shares of the biopharmaceutical company’s stock worth $29,288,000 after acquiring an additional 472,600 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in Ultragenyx Pharmaceutical by 49.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 983,715 shares of the biopharmaceutical company’s stock valued at $35,768,000 after acquiring an additional 325,000 shares during the period. Finally, Perceptive Advisors LLC bought a new stake in Ultragenyx Pharmaceutical during the second quarter worth about $9,817,000. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RARE shares. TD Cowen decreased their target price on shares of Ultragenyx Pharmaceutical from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Leerink Partners lowered their price objective on Ultragenyx Pharmaceutical from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, December 30th. Robert W. Baird cut their target price on Ultragenyx Pharmaceutical from $72.00 to $47.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 30th. Guggenheim dropped their price target on shares of Ultragenyx Pharmaceutical from $64.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Finally, Canaccord Genuity Group reduced their price objective on shares of Ultragenyx Pharmaceutical from $128.00 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Sixteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.29.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE opened at $23.04 on Friday. Ultragenyx Pharmaceutical Inc. has a 52-week low of $18.41 and a 52-week high of $43.54. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -3.95 and a beta of 0.16. The stock’s 50-day simple moving average is $24.50 and its two-hundred day simple moving average is $29.36.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Thursday, February 12th. The biopharmaceutical company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.09). Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 85.54%.The business had revenue of $207.28 million during the quarter, compared to analysts’ expectations of $199.60 million. During the same period in the previous year, the business posted ($1.39) EPS. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. As a group, equities analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Howard Horn sold 3,081 shares of Ultragenyx Pharmaceutical stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $36.38, for a total transaction of $112,086.78. Following the transaction, the chief financial officer directly owned 95,146 shares in the company, valued at approximately $3,461,411.48. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 6,227 shares of company stock valued at $187,126. 5.50% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Company Profile

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.