Mackenzie Financial Corp Has $678,000 Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Mackenzie Financial Corp grew its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 275.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,115 shares of the biopharmaceutical company's stock after purchasing an additional 11,825 shares during the period. Mackenzie Financial Corp's holdings in Ultragenyx Pharmaceutical were worth $678,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Ultragenyx Pharmaceutical by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,034,862 shares of the biopharmaceutical company's stock worth $422,167,000 after purchasing an additional 89,389 shares during the last quarter. Invesco Ltd. grew its position in Ultragenyx Pharmaceutical by 1.5% during the 4th quarter. Invesco Ltd. now owns 1,699,756 shares of the biopharmaceutical company's stock worth $71,509,000 after purchasing an additional 25,487 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Ultragenyx Pharmaceutical by 5.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,627,932 shares of the biopharmaceutical company's stock worth $68,487,000 after acquiring an additional 81,667 shares in the last quarter. Vestal Point Capital LP boosted its stake in shares of Ultragenyx Pharmaceutical by 100.0% during the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock worth $63,105,000 after acquiring an additional 750,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Ultragenyx Pharmaceutical by 23.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock worth $60,570,000 after acquiring an additional 269,733 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company's stock.

Ultragenyx Pharmaceutical Stock Up 0.8%

NASDAQ:RARE traded up $0.30 on Thursday, reaching $36.91. The stock had a trading volume of 1,414,496 shares, compared to its average volume of 843,390. Ultragenyx Pharmaceutical Inc. has a 1-year low of $29.59 and a 1-year high of $60.37. The stock has a fifty day moving average price of $35.52 and a 200-day moving average price of $40.45. The company has a market capitalization of $3.49 billion, a P/E ratio of -5.82 and a beta of 0.34.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. The firm had revenue of $139.29 million during the quarter, compared to the consensus estimate of $145.98 million. During the same period in the previous year, the company posted ($2.03) EPS. The firm's revenue for the quarter was up 28.0% on a year-over-year basis. Sell-side analysts predict that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on RARE shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Morgan Stanley upped their price objective on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, William Blair began coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 target price for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.77.

Ultragenyx Pharmaceutical 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.