Research Analysts Set Expectations for RARE FY2024 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Investment analysts at HC Wainwright lifted their FY2024 earnings per share estimates for Ultragenyx Pharmaceutical in a report released on Wednesday, November 6th. HC Wainwright analyst E. Arce now anticipates that the biopharmaceutical company will earn ($6.26) per share for the year, up from their prior estimate of ($6.34). HC Wainwright has a “Buy” rating and a $95.00 price target on the stock. The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.29) per share. HC Wainwright also issued estimates for Ultragenyx Pharmaceutical’s Q4 2024 earnings at ($1.37) EPS, Q2 2025 earnings at ($1.11) EPS, Q3 2025 earnings at ($1.03) EPS, FY2025 earnings at ($4.29) EPS, FY2026 earnings at ($1.18) EPS, FY2027 earnings at $3.46 EPS and FY2028 earnings at $9.33 EPS.

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday. Canaccord Genuity Group upped their price objective on Ultragenyx Pharmaceutical from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays cut their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE opened at $50.43 on Friday. The company has a market capitalization of $4.65 billion, a P/E ratio of -6.91 and a beta of 0.58. Ultragenyx Pharmaceutical has a one year low of $34.06 and a one year high of $60.37. The stock has a 50-day moving average price of $55.19 and a 200 day moving average price of $48.12.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The firm had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.23) earnings per share.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,465 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Emil D. Kakkis sold 20,000 shares of the firm’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 sale, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,556 shares of company stock worth $1,515,967 in the last three months. 5.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 352 shares in the last quarter. US Bancorp DE boosted its stake in Ultragenyx Pharmaceutical by 5.8% during the 1st quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock valued at $334,000 after purchasing an additional 390 shares in the last quarter. Arizona State Retirement System boosted its stake in Ultragenyx Pharmaceutical by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock valued at $853,000 after purchasing an additional 434 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Ultragenyx Pharmaceutical by 8.7% during the 1st quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock worth $284,000 after acquiring an additional 486 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Ultragenyx Pharmaceutical by 24.5% during the 3rd quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 506 shares in the last quarter. 97.67% of the stock is owned by institutional investors.

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.