Peregrine Capital Management LLC Increases Stake in Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)

Peregrine Capital Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Rating) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,306 shares of the biopharmaceutical company’s stock after buying an additional 25,377 shares during the period. Peregrine Capital Management LLC owned about 0.21% of Ultragenyx Pharmaceutical worth $6,686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky purchased a new stake in Ultragenyx Pharmaceutical during the third quarter valued at approximately $2,986,000. Alpha Paradigm Partners LLC purchased a new stake in Ultragenyx Pharmaceutical during the third quarter valued at approximately $279,000. Fred Alger Management LLC increased its stake in shares of Ultragenyx Pharmaceutical by 39.5% in the third quarter. Fred Alger Management LLC now owns 365,713 shares of the biopharmaceutical company’s stock worth $15,145,000 after purchasing an additional 103,512 shares in the last quarter. BNP Paribas Arbitrage SNC increased its stake in shares of Ultragenyx Pharmaceutical by 344.5% in the third quarter. BNP Paribas Arbitrage SNC now owns 65,997 shares of the biopharmaceutical company’s stock worth $2,733,000 after purchasing an additional 51,148 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Ultragenyx Pharmaceutical by 6.4% in the third quarter. Alliancebernstein L.P. now owns 1,313,533 shares of the biopharmaceutical company’s stock worth $54,393,000 after purchasing an additional 79,409 shares in the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RARE. Credit Suisse Group reissued an “outperform” rating and issued a $96.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, February 17th. Canaccord Genuity Group reissued a “buy” rating and issued a $90.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, January 18th. Morgan Stanley reduced their price objective on shares of Ultragenyx Pharmaceutical from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Robert W. Baird increased their price objective on shares of Ultragenyx Pharmaceutical from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Friday, February 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $82.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Friday, December 30th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.67.

Ultragenyx Pharmaceutical Trading Down 4.2 %

RARE stock opened at $38.53 on Friday. Ultragenyx Pharmaceutical Inc. has a 52 week low of $33.36 and a 52 week high of $85.53. The company has a fifty day simple moving average of $43.68 and a two-hundred day simple moving average of $42.04.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The biopharmaceutical company reported ($2.16) EPS for the quarter, missing the consensus estimate of ($2.03) by ($0.13). Ultragenyx Pharmaceutical had a negative net margin of 194.71% and a negative return on equity of 110.15%. The business had revenue of $103.35 million for the quarter, compared to the consensus estimate of $105.11 million. During the same quarter last year, the business earned ($1.79) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, equities analysts predict that Ultragenyx Pharmaceutical Inc. will post -7.62 EPS for the current fiscal year.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, EVP Camille L. Bedrosian sold 3,881 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $45.25, for a total value of $175,615.25. Following the completion of the sale, the executive vice president now owns 46,720 shares in the company, valued at approximately $2,114,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Camille L. Bedrosian sold 3,881 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $45.25, for a total value of $175,615.25. Following the completion of the sale, the executive vice president now owns 46,720 shares in the company, valued at approximately $2,114,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Theodore Alan Huizenga sold 639 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $43.40, for a total transaction of $27,732.60. Following the completion of the sale, the chief accounting officer now owns 15,558 shares of the company’s stock, valued at approximately $675,217.20. The disclosure for this sale can be found here. Insiders sold 6,940 shares of company stock worth $310,388 over the last 90 days. 6.70% of the stock is owned by insiders.

Ultragenyx Pharmaceutical Company Profile

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Ultragenyx Pharmaceutical, Inc engages in the identification, acquisition, development, and commercialization of novel products for the treatment of genetic diseases. Its products include Crysvita, Mepsevii, Dojolvi, and Evkeeza. The company was founded by Emil D. Kakkis in April 2010, and is headquartered in Novato, CA.