Ultragenyx Pharmaceutical (NASDAQ:RARE) Issues Earnings Results, Beats Expectations By $0.05 EPS

Ultragenyx Pharmaceutical (NASDAQ:RARE) announced its earnings results on Tuesday. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.45) by $0.05, Briefing.com reports. 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 net margin of 121.57% and a negative return on equity of 266.02%. The firm’s revenue for the quarter was up 42.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($2.23) EPS. Ultragenyx Pharmaceutical updated its FY 2024 guidance to EPS.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE traded down $1.58 during mid-day trading on Wednesday, hitting $50.60. The company’s stock had a trading volume of 825,042 shares, compared to its average volume of 777,943. The firm has a market capitalization of $4.66 billion, a P/E ratio of -6.98 and a beta of 0.58. Ultragenyx Pharmaceutical has a 52-week low of $34.06 and a 52-week high of $60.37. The stock’s fifty day simple moving average is $55.47 and its two-hundred day simple moving average is $48.09.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RARE shares. Wells Fargo & Company lifted their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. TD Cowen increased their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays decreased their price objective on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Insiders Place Their Bets

In other news, CEO Emil D. Kakkis sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total value of $1,117,000.00. Following the transaction, the chief executive officer now owns 2,223,985 shares of the company’s stock, valued at approximately $124,209,562.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Howard Horn sold 7,465 shares of the business’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 transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $124,209,562.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,556 shares of company stock worth $1,515,967 over the last ninety days. 5.80% of the stock is owned by company insiders.

Ultragenyx Pharmaceutical Company Profile

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.