Millennium Management LLC Buys 15,157 Shares of 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 increased its stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 712,393 shares of the biopharmaceutical company's stock after purchasing 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 Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RARE. Ameriprise Financial Inc. grew its stake in shares of Ultragenyx Pharmaceutical by 8.4% in the fourth quarter. Ameriprise Financial Inc. now owns 13,396 shares of the biopharmaceutical company's stock worth $564,000 after acquiring an additional 1,039 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at approximately $211,000. Point72 Hong Kong Ltd raised its holdings in shares of Ultragenyx Pharmaceutical by 173.4% in the fourth quarter. Point72 Hong Kong Ltd now owns 27,399 shares of the biopharmaceutical company's stock worth $1,153,000 after acquiring an additional 17,379 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Ultragenyx Pharmaceutical by 81.0% during the 4th quarter. Point72 Asset Management L.P. now owns 1,182,877 shares of the biopharmaceutical company's stock valued at $49,764,000 after acquiring an additional 529,217 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 2.9% in the fourth quarter. Rafferty Asset Management LLC now owns 101,293 shares of the biopharmaceutical company's stock worth $4,261,000 after acquiring an additional 2,892 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total transaction of $89,922.95. Following the sale, the director owned 15,344 shares in the company, valued at $573,712.16. This trade represents a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Karah Herdman Parschauer sold 2,450 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $31.17, for a total value of $76,366.50. Following the completion of the sale, the executive vice president directly owned 73,271 shares of the company's stock, valued at approximately $2,283,857.07. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company's stock.

Ultragenyx Pharmaceutical Stock Down 0.1%

Shares of NASDAQ:RARE traded down $0.03 during trading on Wednesday, hitting $29.45. 144,857 shares of the company were exchanged, compared to its average volume of 1,307,026. The company has a market capitalization of $2.84 billion, a P/E ratio of -5.34 and a beta of 0.21. Ultragenyx Pharmaceutical Inc. has a 1-year low of $25.81 and a 1-year high of $59.90. The business's 50 day moving average is $29.29 and its 200-day moving average is $34.23.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its 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. The business had revenue of $166.50 million during the quarter, compared to analysts' expectations of $161.37 million. Ultragenyx Pharmaceutical had a negative return on equity of 237.48% and a negative net margin of 87.34%.The firm's revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.52) earnings per share. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RARE shares. Wells Fargo & Company decreased their price target on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, September 9th. Morgan Stanley cut their price objective on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $105.00 target price on shares of Ultragenyx Pharmaceutical in a report on Friday, September 5th. Finally, Wedbush lowered their price objective 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. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

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.