Driehaus Capital Management LLC Boosts Stock Position in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Driehaus Capital Management LLC raised its position in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) by 35.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 528,180 shares of the biopharmaceutical company’s stock after purchasing an additional 138,889 shares during the quarter. Driehaus Capital Management LLC owned 0.57% of Ultragenyx Pharmaceutical worth $21,708,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RARE. Sands Capital Management LLC grew its stake in Ultragenyx Pharmaceutical by 59.8% during the 4th quarter. Sands Capital Management LLC now owns 4,118,008 shares of the biopharmaceutical company’s stock valued at $196,923,000 after purchasing an additional 1,540,791 shares during the last quarter. RTW Investments LP lifted its holdings in shares of Ultragenyx Pharmaceutical by 27.4% in the 4th quarter. RTW Investments LP now owns 6,887,086 shares of the biopharmaceutical company’s stock valued at $329,340,000 after buying an additional 1,481,997 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ultragenyx Pharmaceutical by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 8,673,432 shares of the biopharmaceutical company’s stock valued at $414,764,000 after buying an additional 1,440,264 shares during the period. Millennium Management LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock valued at $76,065,000 after buying an additional 942,529 shares during the period. Finally, Avoro Capital Advisors LLC lifted its holdings in shares of Ultragenyx Pharmaceutical by 137.1% in the 1st quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock valued at $38,753,000 after buying an additional 480,000 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock opened at $54.43 on Friday. The business has a 50 day simple moving average of $53.28 and a two-hundred day simple moving average of $46.69. Ultragenyx Pharmaceutical Inc. has a 12 month low of $31.52 and a 12 month high of $60.37. The stock has a market capitalization of $5.02 billion, a P/E ratio of -6.78 and a beta of 0.56.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($1.52) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.12. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The business had revenue of $147.03 million during the quarter, compared to analysts’ expectations of $123.20 million. During the same quarter in the prior year, the firm earned ($2.25) earnings per share. The business’s revenue was up 35.7% compared to the same quarter last year. As a group, research analysts anticipate that Ultragenyx Pharmaceutical Inc. will post -6.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and issued a $111.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Tuesday, July 23rd. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays decreased their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a report on Thursday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.43.

Insider Activity

In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total value of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 40,675 shares of company stock worth $2,149,446 over the last ninety days. Corporate insiders own 5.80% of the company’s stock.

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.