21,774 Shares in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,774 shares of the biopharmaceutical company's stock, valued at approximately $916,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter worth approximately $40,463,000. Pictet Asset Management Holding SA raised its holdings in shares of Ultragenyx Pharmaceutical by 125.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,173,638 shares of the biopharmaceutical company's stock worth $49,375,000 after buying an additional 653,088 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Ultragenyx Pharmaceutical during the fourth quarter worth $11,156,000. Prudential Financial Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 659.5% during the fourth quarter. Prudential Financial Inc. now owns 272,940 shares of the biopharmaceutical company's stock valued at $11,483,000 after buying an additional 237,003 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Ultragenyx Pharmaceutical by 95.2% in the 4th quarter. Franklin Resources Inc. now owns 427,359 shares of the biopharmaceutical company's stock valued at $17,979,000 after acquiring an additional 208,456 shares during the period. Hedge funds and other institutional investors own 97.67% of the company's stock.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 1,785 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $40.40, for a total transaction of $72,114.00. Following the sale, the chief financial officer now owns 106,169 shares of the company's stock, valued at $4,289,227.60. The trade was a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Emil D. Kakkis sold 73,434 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $42.10, for a total transaction of $3,091,571.40. Following the sale, the chief executive officer now directly owns 641,731 shares of the company's stock, valued at $27,016,875.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 125,405 shares of company stock worth $5,285,169. Corporate insiders own 5.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on RARE. Wedbush reiterated a "neutral" rating and set a $48.00 price target (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. HC Wainwright reiterated a "buy" rating and issued a $95.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, February 14th. Cantor Fitzgerald restated an "overweight" rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Piper Sandler cut their price objective on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Finally, Morgan Stanley boosted their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $90.93.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ:RARE traded down $0.82 during midday trading on Friday, reaching $35.16. 1,136,694 shares of the company's stock traded hands, compared to its average volume of 824,723. The company has a fifty day simple moving average of $36.89 and a two-hundred day simple moving average of $42.55. The company has a market cap of $3.30 billion, a P/E ratio of -5.55 and a beta of 0.34. Ultragenyx Pharmaceutical Inc. has a 1 year low of $29.59 and a 1 year high of $60.37.

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

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.