Wedge Capital Management L L P NC Takes Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Wedge Capital Management L L P NC bought a new stake in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 35,695 shares of the biopharmaceutical company’s stock, valued at approximately $1,293,000.

Several other institutional investors have also recently made changes to their positions in the company. Deep Track Capital LP acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at $27,493,000. Dark Forest Capital Management LP acquired a new stake in Ultragenyx Pharmaceutical in the 4th quarter valued at $459,000. First Light Asset Management LLC grew its stake in 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 acquiring an additional 8,505 shares during the period. Stifel Financial Corp grew its stake in Ultragenyx Pharmaceutical by 13.5% in the 4th quarter. Stifel Financial Corp now owns 23,796 shares of the biopharmaceutical company’s stock valued at $1,001,000 after acquiring an additional 2,835 shares during the period. Finally, Alyeska Investment Group L.P. grew its stake in Ultragenyx Pharmaceutical by 23.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,439,740 shares of the biopharmaceutical company’s stock valued at $60,570,000 after acquiring an additional 269,733 shares during the period. 97.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. William Blair assumed coverage on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They set an “outperform” rating and a $65.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $118.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, February 26th. Piper Sandler lowered 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 note on Monday, March 17th. Canaccord Genuity Group lifted their target price on shares of Ultragenyx Pharmaceutical from $121.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley lifted their target price on shares of Ultragenyx Pharmaceutical from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.77.

Ultragenyx Pharmaceutical Stock Up 1.3%

RARE opened at $37.51 on Wednesday. The firm has a market cap of $3.55 billion, a P/E ratio of -5.92 and a beta of 0.25. Ultragenyx Pharmaceutical Inc. has a 52 week low of $29.59 and a 52 week high of $60.37. The business’s fifty day simple moving average is $35.66 and its 200 day simple moving average is $40.22.

Ultragenyx Pharmaceutical (NASDAQ:RARE) 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%. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.03) EPS. As a group, equities analysts expect that Ultragenyx Pharmaceutical Inc. will post -5.18 EPS for the current fiscal year.

About Ultragenyx Pharmaceutical

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.