Eversept Partners LP Sells 254,607 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Eversept Partners LP cut its Ultragenyx Pharmaceutical position by 80.3% in the first quarter, selling 254,607 shares and retaining 62,575 shares valued at approximately $1.31 million.
• Wall Street maintains a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $58.41, despite some analysts reducing targets.
• Ultragenyx reported weaker-than-expected quarterly results, including an EPS loss of $1.84 versus a $1.49 estimate and revenue of $136 million versus $158.19 million expected; shares recently traded near $26.89.

Eversept Partners LP lowered its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 80.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,575 shares of the biopharmaceutical company's stock after selling 254,607 shares during the quarter. Eversept Partners LP owned about 0.06% of Ultragenyx Pharmaceutical worth $1,311,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RARE. Jefferies Financial Group Inc. acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter worth about $10,973,000. BNP Paribas Financial Markets grew its position in shares of Ultragenyx Pharmaceutical by 57.6% during the 4th quarter. BNP Paribas Financial Markets now owns 903,050 shares of the biopharmaceutical company's stock worth $20,770,000 after purchasing an additional 330,031 shares in the last quarter. GW&K Investment Management LLC grew its position in shares of Ultragenyx Pharmaceutical by 19.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,375,407 shares of the biopharmaceutical company's stock worth $31,634,000 after purchasing an additional 225,238 shares in the last quarter. UBS Group AG increased its holdings in shares of Ultragenyx Pharmaceutical by 22.3% during the fourth quarter. UBS Group AG now owns 668,811 shares of the biopharmaceutical company's stock worth $15,383,000 after purchasing an additional 121,786 shares during the period. Finally, Aberdeen Group plc increased its holdings in shares of Ultragenyx Pharmaceutical by 51.0% during the fourth quarter. Aberdeen Group plc now owns 1,469,951 shares of the biopharmaceutical company's stock worth $33,809,000 after purchasing an additional 496,295 shares during the period. Institutional investors own 97.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RARE shares. Guggenheim reduced their price target on Ultragenyx Pharmaceutical from $52.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Wedbush dropped their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, May 6th. Morgan Stanley upped their target price on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Wells Fargo & Company increased their target price on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Cantor Fitzgerald raised their price target on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.41.

Insiders Place Their Bets

In related news, EVP Karah Herdman Parschauer sold 1,899 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $24.62, for a total transaction of $46,753.38. Following the completion of the transaction, the executive vice president directly owned 94,462 shares in the company, valued at $2,325,654.44. This represents a 1.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shehnaaz Suliman sold 5,740 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $25.12, for a total value of $144,188.80. Following the completion of the transaction, the director owned 27,951 shares of the company's stock, valued at $702,129.12. The trade was a 17.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 19,319 shares of company stock worth $476,837. 5.20% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Trading Down 0.0%

NASDAQ RARE opened at $26.89 on Tuesday. The firm's 50 day simple moving average is $27.50 and its 200 day simple moving average is $24.68. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -4.40 and a beta of 0.31. Ultragenyx Pharmaceutical Inc. has a 1 year low of $18.29 and a 1 year high of $39.89.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($1.84) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.35). Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The firm had revenue of $136.00 million for the quarter, compared to analyst estimates of $158.19 million. During the same quarter in the prior year, the firm earned ($1.57) earnings per share. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -4.53 earnings per share for the current year.

Ultragenyx Pharmaceutical 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.

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