Millennium Management LLC Boosts Stake in Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Millennium Management LLC increased its stake in Ultragenyx Pharmaceutical Inc. by 2.2%, totaling 712,393 shares valued at approximately $25.8 million.
• Investment analysts have given the stock an average rating of "Moderate Buy" with a consensus target price of $81.50, indicating positive growth potential.
• Ultragenyx reported a revenue of $166.5 million for the last quarter, a 13.2% increase compared to the same period last year, beating analysts' expectations.

Millennium Management LLC raised its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 712,393 shares of the biopharmaceutical company's stock after buying an additional 15,157 shares during the period. Millennium Management LLC owned 0.75% of Ultragenyx Pharmaceutical worth $25,796,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. William Blair assumed coverage on Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They issued an "outperform" rating and a $65.00 target price on the stock. Morgan Stanley lowered their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating on the stock in a research note on Monday, July 14th. Wedbush lowered their target price on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating on the stock in a research note on Monday, July 14th. Guggenheim reaffirmed a "buy" rating and issued a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, June 20th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $81.50.

Ultragenyx Pharmaceutical Trading Down 0.2%

RARE opened at $31.23 on Friday. The company has a 50 day moving average of $29.88 and a 200 day moving average of $34.53. The company has a market cap of $3.01 billion, a PE ratio of -5.65 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.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $161.37 million. During the same period last year, the firm earned ($1.52) EPS. The business's quarterly revenue was up 13.2% compared to the same quarter last year. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. Research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total value of $89,922.95. Following the transaction, the director directly owned 15,344 shares in the company, valued at $573,712.16. This represents a 13.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.50% of the stock is currently owned by insiders.

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.

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