Research Analysts Set Expectations for RARE FY2024 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for shares of Ultragenyx Pharmaceutical in a research note issued on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now forecasts that the biopharmaceutical company will earn ($6.20) per share for the year, up from their prior forecast of ($6.31). The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.15) per share. Leerink Partnrs also issued estimates for Ultragenyx Pharmaceutical’s Q4 2024 earnings at ($1.31) EPS, Q1 2025 earnings at ($1.39) EPS, Q2 2025 earnings at ($1.32) EPS, Q3 2025 earnings at ($1.27) EPS, Q4 2025 earnings at ($1.18) EPS, FY2025 earnings at ($5.17) EPS and FY2026 earnings at ($2.63) EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the company posted ($2.23) earnings per share.

Other analysts also recently issued reports about the company. Piper Sandler raised their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. TD Cowen lifted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, HC Wainwright restated a “buy” rating and set a $95.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.29.

Ultragenyx Pharmaceutical Trading Up 3.2 %

NASDAQ:RARE opened at $41.28 on Wednesday. Ultragenyx Pharmaceutical has a 12 month low of $37.02 and a 12 month high of $60.37. The firm’s 50 day moving average is $44.88 and its 200 day moving average is $49.63. The stock has a market capitalization of $3.81 billion, a PE ratio of -6.38 and a beta of 0.58.

Institutional Trading of Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in RARE. Algert Global LLC increased its stake in Ultragenyx Pharmaceutical by 46.9% in the third quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock valued at $4,105,000 after acquiring an additional 23,580 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth about $17,468,000. Bamco Inc. NY purchased a new position in shares of Ultragenyx Pharmaceutical during the 3rd quarter valued at about $2,666,000. Clearline Capital LP bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth approximately $1,355,000. Finally, Principal Financial Group Inc. boosted its stake in Ultragenyx Pharmaceutical by 740.0% in the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after buying an additional 76,150 shares in the last quarter. Hedge funds and other institutional investors own 97.67% of the company’s stock.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $42.23, for a total transaction of $495,231.21. Following the completion of the sale, the chief executive officer now directly owns 2,183,985 shares in the company, valued at $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.