Adage Capital Partners GP L.L.C. Acquires 965,919 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its holdings in Ultragenyx Pharmaceutical Inc. by 81.6% during Q1, now owning 2,149,000 shares valued at approximately $77.82 million.
• Ultragenyx Pharmaceutical reported a quarterly revenue of $166.5 million, surpassing analysts' expectations of $161.37 million, while the company also posted an earnings per share (EPS) of ($1.17), beating the consensus estimate of ($1.27).
• Analysts currently have a consensus rating of "Moderate Buy" for Ultragenyx Pharmaceutical, with a target price averaging $81.50, indicating confidence in the stock's potential for growth.

Adage Capital Partners GP L.L.C. grew its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 81.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,149,000 shares of the biopharmaceutical company's stock after purchasing an additional 965,919 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 2.27% of Ultragenyx Pharmaceutical worth $77,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RARE. GAMMA Investing LLC boosted its position in Ultragenyx Pharmaceutical by 76.2% during the first quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 323 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in Ultragenyx Pharmaceutical during the first quarter worth about $57,000. Headlands Technologies LLC bought a new position in Ultragenyx Pharmaceutical during the first quarter worth about $59,000. Covestor Ltd boosted its position in Ultragenyx Pharmaceutical by 86.8% during the first quarter. Covestor Ltd now owns 1,711 shares of the biopharmaceutical company's stock worth $62,000 after purchasing an additional 795 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in Ultragenyx Pharmaceutical during the fourth quarter worth about $82,000. Institutional investors own 97.67% of the company's stock.

Analyst Ratings Changes

RARE has been the subject of a number of analyst reports. William Blair initiated coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 price objective for the company. Morgan Stanley cut their price objective on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. Wells Fargo & Company cut their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. HC Wainwright upgraded shares of Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price objective for the company in a research report on Monday, July 28th. Finally, Guggenheim restated a "buy" rating and issued a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Friday, June 20th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

Insider Activity

In other news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $37.39, for a total value of $89,922.95. Following the transaction, the director owned 15,344 shares in the company, valued at approximately $573,712.16. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Trading Up 1.7%

Shares of RARE stock traded up $0.54 during trading hours on Friday, hitting $31.82. 1,325,362 shares of the company's stock were exchanged, compared to its average volume of 1,310,061. The company has a market capitalization of $3.07 billion, a PE ratio of -5.75 and a beta of 0.21. Ultragenyx Pharmaceutical Inc. has a 12-month low of $25.81 and a 12-month high of $60.37. The business's 50 day simple moving average is $30.40 and its 200-day simple moving average is $34.86.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.10. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The firm had revenue of $166.50 million for the quarter, compared to the consensus estimate of $161.37 million. During the same period last year, the firm posted ($1.52) earnings per share. The business's revenue was up 13.2% compared to the same quarter last year. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Equities analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current 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.