Q2 2024 EPS Estimates for Ultragenyx Pharmaceutical Inc. Boosted by Analyst (NASDAQ:RARE)

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Investment analysts at Leerink Partnrs increased their Q2 2024 EPS estimates for shares of Ultragenyx Pharmaceutical in a research report issued on Wednesday, June 19th. Leerink Partnrs analyst J. Schwartz now anticipates that the biopharmaceutical company will earn ($1.70) per share for the quarter, up from their prior estimate of ($1.88). The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.47) per share. Leerink Partnrs also issued estimates for Ultragenyx Pharmaceutical’s Q3 2024 earnings at ($1.58) EPS, Q4 2024 earnings at ($1.48) EPS, FY2024 earnings at ($6.75) EPS and FY2025 earnings at ($3.88) EPS.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. The Goldman Sachs Group raised shares of Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $67.00 in a report on Thursday, June 6th. Robert W. Baird lifted their price objective on shares of Ultragenyx Pharmaceutical from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Stifel Nicolaus boosted their price target on shares of Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Bank of America lowered their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.71.

Ultragenyx Pharmaceutical Stock Performance

NASDAQ RARE opened at $39.85 on Monday. Ultragenyx Pharmaceutical has a 52-week low of $31.52 and a 52-week high of $54.56. The company has a market capitalization of $3.31 billion, a P/E ratio of -4.96 and a beta of 0.60. The company has a fifty day moving average of $41.43 and a 200-day moving average of $45.10.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) EPS for the quarter, missing the consensus estimate of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative net margin of 138.58% and a negative return on equity of 425.63%. The firm had revenue of $108.83 million during the quarter, compared to the consensus estimate of $116.03 million. During the same period in the previous year, the business earned ($2.33) earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 9,806 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total value of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares in the company, valued at $2,609,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $41.10, for a total transaction of $71,390.70. Following the transaction, the director now owns 7,248 shares in the company, valued at $297,892.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Karah Herdman Parschauer sold 9,806 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.00, for a total transaction of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares in the company, valued at approximately $2,609,145. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,685 shares of company stock worth $518,923. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of RARE. Charles Schwab Investment Management Inc. increased its position in shares of Ultragenyx Pharmaceutical by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 396,725 shares of the biopharmaceutical company’s stock valued at $14,143,000 after buying an additional 19,487 shares during the period. FMR LLC boosted its stake in Ultragenyx Pharmaceutical by 23.4% during the third quarter. FMR LLC now owns 1,027,785 shares of the biopharmaceutical company’s stock worth $36,641,000 after acquiring an additional 195,108 shares in the last quarter. Invesco Ltd. boosted its stake in Ultragenyx Pharmaceutical by 2.1% during the third quarter. Invesco Ltd. now owns 385,441 shares of the biopharmaceutical company’s stock worth $13,741,000 after acquiring an additional 8,092 shares in the last quarter. Aigen Investment Management LP boosted its stake in Ultragenyx Pharmaceutical by 52.3% during the third quarter. Aigen Investment Management LP now owns 6,732 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 2,312 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Ultragenyx Pharmaceutical by 10.9% during the third quarter. Hsbc Holdings PLC now owns 26,975 shares of the biopharmaceutical company’s stock worth $958,000 after acquiring an additional 2,662 shares in the last quarter. Hedge funds and other institutional investors own 97.67% 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.