Fred Alger Management LLC Acquires 58,372 Shares of Ultragenyx Pharmaceutical Inc. $RARE

Key Points

• Fred Alger Management LLC increased its stake in Ultragenyx Pharmaceutical Inc. by 12.5%, owning a total of 524,637 shares valued at about $19 million as of the latest SEC filing.
• Ultragenyx reported a quarterly revenue of $166.5 million, surpassing analysts' expectations, while beating EPS estimates by $0.10.
• Analysts have mixed ratings for Ultragenyx, with the stock having a consensus rating of "Moderate Buy" and an average price target of $81.50.

Fred Alger Management LLC boosted its position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) by 12.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 524,637 shares of the biopharmaceutical company's stock after purchasing an additional 58,372 shares during the quarter. Fred Alger Management LLC owned about 0.55% of Ultragenyx Pharmaceutical worth $18,997,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Parkman Healthcare Partners LLC lifted its position in shares of Ultragenyx Pharmaceutical by 203.8% during the 1st quarter. Parkman Healthcare Partners LLC now owns 304,244 shares of the biopharmaceutical company's stock valued at $11,017,000 after acquiring an additional 204,085 shares during the period. Millennium Management LLC lifted its position in shares of Ultragenyx Pharmaceutical by 2.2% during the 1st quarter. Millennium Management LLC now owns 712,393 shares of the biopharmaceutical company's stock valued at $25,796,000 after acquiring an additional 15,157 shares during the period. Cinctive Capital Management LP lifted its position in shares of Ultragenyx Pharmaceutical by 22.7% during the 1st quarter. Cinctive Capital Management LP now owns 77,261 shares of the biopharmaceutical company's stock valued at $2,798,000 after acquiring an additional 14,301 shares during the period. Alyeska Investment Group L.P. lifted its position in shares of Ultragenyx Pharmaceutical by 3.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,495,351 shares of the biopharmaceutical company's stock valued at $54,147,000 after acquiring an additional 55,611 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Ultragenyx Pharmaceutical by 81.6% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company's stock valued at $77,815,000 after acquiring an additional 965,919 shares during the period. 97.67% of the stock is currently owned by institutional investors.

Insider Transactions at Ultragenyx Pharmaceutical

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 sale, the director owned 15,344 shares in the company, valued at approximately $573,712.16. The trade was a 13.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Karah Herdman Parschauer sold 2,450 shares of the company'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 owned 73,271 shares in the company, valued at $2,283,857.07. This trade represents a 3.24% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RARE has been the subject of a number of recent analyst reports. Morgan Stanley cut their target price on Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a research report on Monday, July 14th. William Blair initiated coverage on Ultragenyx Pharmaceutical in a research report on Wednesday, May 28th. They set an "outperform" rating and a $65.00 target price for the company. Wedbush cut their target price on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a "neutral" rating for the company in a research report on Monday, July 14th. Canaccord Genuity Group lowered their price target on Ultragenyx Pharmaceutical from $136.00 to $128.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $105.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, September 5th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.50.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock traded down $0.92 during trading on Friday, reaching $30.31. 1,391,015 shares of the company's stock were exchanged, compared to its average volume of 1,299,861. Ultragenyx Pharmaceutical Inc. has a 1-year low of $25.81 and a 1-year high of $60.37. The company has a market cap of $2.92 billion, a P/E ratio of -5.48 and a beta of 0.21. The firm's 50-day moving average price is $29.70 and its 200 day moving average price is $34.36.

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

Ultragenyx Pharmaceutical Company 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.