Eversept Partners LP Takes $7.30 Million Position in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Eversept Partners LP disclosed a new fourth-quarter position in Ultragenyx Pharmaceutical, buying 317,182 shares worth about $7.3 million and owning 0.33% of the company.
• Analyst sentiment on RARE remains generally positive, with a Moderate Buy consensus and an average price target of $59.56, even as some firms trimmed or raised targets and ratings.
• Ultragenyx reported a weaker-than-expected quarter, posting EPS of -$1.84 versus the -$1.49 estimate and revenue of $136 million, while insiders also sold shares during the period.

Eversept Partners LP acquired a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 317,182 shares of the biopharmaceutical company's stock, valued at approximately $7,295,000. Eversept Partners LP owned 0.33% of Ultragenyx Pharmaceutical as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aquatic Capital Management LLC increased its holdings in Ultragenyx Pharmaceutical by 79.1% during the 3rd quarter. Aquatic Capital Management LLC now owns 191,458 shares of the biopharmaceutical company's stock worth $5,759,000 after purchasing an additional 84,559 shares during the last quarter. Thornburg Investment Management Inc. bought a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth $2,083,000. Aberdeen Group plc grew its stake in Ultragenyx Pharmaceutical by 94.3% during the 3rd quarter. Aberdeen Group plc now owns 973,656 shares of the biopharmaceutical company's stock worth $29,288,000 after buying an additional 472,600 shares during the last quarter. Rafferty Asset Management LLC grew its stake in Ultragenyx Pharmaceutical by 93.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 156,484 shares of the biopharmaceutical company's stock worth $4,707,000 after buying an additional 75,388 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Ultragenyx Pharmaceutical during the 4th quarter worth $10,973,000. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on RARE. Wells Fargo & Company boosted their price target on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Wedbush cut their target price on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. JPMorgan Chase & Co. cut their target price on Ultragenyx Pharmaceutical from $120.00 to $74.00 and set an "overweight" rating on the stock in a research report on Thursday, March 12th. Weiss Ratings raised Ultragenyx Pharmaceutical from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 8th. Finally, Morgan Stanley upped their price target on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.56.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Shehnaaz Suliman sold 5,740 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $25.12, for a total value of $144,188.80. Following the transaction, the director directly owned 27,951 shares of the company's stock, valued at $702,129.12. This represents a 17.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Howard Horn sold 4,683 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $24.90, for a total value of $116,606.70. Following the completion of the transaction, the chief financial officer directly owned 110,342 shares in the company, valued at approximately $2,747,515.80. The trade was a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 24,002 shares of company stock valued at $575,039. 5.20% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock opened at $26.91 on Thursday. Ultragenyx Pharmaceutical Inc. has a fifty-two week low of $18.29 and a fifty-two week high of $42.37. The stock's 50-day moving average is $24.17 and its two-hundred day moving average is $24.91. The firm has a market cap of $2.65 billion, a P/E ratio of -4.40 and a beta of 0.37.

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