Wedge Capital Management L L P NC Invests $1.29 Million in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Wedge Capital Management L L P NC acquired a new stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,695 shares of the biopharmaceutical company's stock, valued at approximately $1,293,000.

A number of other institutional investors have also made changes to their positions in the stock. Deep Track Capital LP bought a new stake in Ultragenyx Pharmaceutical during the 4th quarter worth $27,493,000. Dark Forest Capital Management LP bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth about $459,000. First Light Asset Management LLC grew its stake in shares of Ultragenyx Pharmaceutical by 1.1% in the 4th quarter. First Light Asset Management LLC now owns 763,607 shares of the biopharmaceutical company's stock valued at $32,125,000 after buying an additional 8,505 shares during the period. Stifel Financial Corp raised its position in shares of Ultragenyx Pharmaceutical by 13.5% during the fourth quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company's stock worth $1,001,000 after purchasing an additional 2,835 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Ultragenyx Pharmaceutical by 23.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company's stock valued at $60,570,000 after buying an additional 269,733 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Piper Sandler decreased their target price on shares of Ultragenyx Pharmaceutical from $140.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Canaccord Genuity Group upped their price objective on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. William Blair initiated coverage on Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They set an "outperform" rating and a $65.00 price objective for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.77.

Ultragenyx Pharmaceutical Trading Up 4.8%

Shares of RARE stock traded up $1.79 on Thursday, reaching $39.30. The company's stock had a trading volume of 494,812 shares, compared to its average volume of 919,116. The stock's fifty day simple moving average is $35.77 and its 200-day simple moving average is $40.20. Ultragenyx Pharmaceutical Inc. has a 1 year low of $29.59 and a 1 year high of $60.37. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -6.20 and a beta of 0.25.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.03). The business had revenue of $139.29 million during the quarter, compared to analysts' expectations of $145.98 million. Ultragenyx Pharmaceutical had a negative net margin of 101.60% and a negative return on equity of 193.80%. Ultragenyx Pharmaceutical's revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.03) earnings per share. Equities research analysts forecast that Ultragenyx Pharmaceutical Inc. will post -5.18 earnings per share for the current year.

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.