Research Analysts Offer Predictions for RARE FY2024 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) - Research analysts at Cantor Fitzgerald increased their FY2024 EPS estimates for shares of Ultragenyx Pharmaceutical in a research note issued on Wednesday, November 6th. Cantor Fitzgerald analyst K. Kluska now anticipates that the biopharmaceutical company will earn ($6.11) per share for the year, up from their previous estimate of ($6.21). Cantor Fitzgerald currently has a "Overweight" rating and a $116.00 target price on the stock. The consensus estimate for Ultragenyx Pharmaceutical's current full-year earnings is ($6.21) per share.

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

Several other brokerages also recently issued reports on RARE. TD Cowen increased their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Canaccord Genuity Group upped their price target on Ultragenyx Pharmaceutical from $109.00 to $121.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Wedbush lifted their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, HC Wainwright lifted their price target on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $86.69.

Ultragenyx Pharmaceutical Trading Up 0.7 %

Shares of NASDAQ RARE traded up $0.37 during midday trading on Monday, reaching $50.73. 1,060,628 shares of the stock were exchanged, compared to its average volume of 784,670. The stock has a 50 day moving average price of $55.06 and a 200-day moving average price of $48.22. Ultragenyx Pharmaceutical has a 52-week low of $34.06 and a 52-week high of $60.37. The company has a market capitalization of $4.68 billion, a P/E ratio of -7.78 and a beta of 0.58.

Insider Buying and Selling

In other news, CEO Emil D. Kakkis sold 20,000 shares of the 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 completion of 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the firm's stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares of the company's stock, valued at approximately $4,869,800.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 2,223,985 shares of the company's stock, valued at approximately $124,209,562.25. This represents a 0.00 % decrease in their ownership of the stock. 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 corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RARE. Headlands Technologies LLC acquired a new stake in Ultragenyx Pharmaceutical in the first quarter valued at $28,000. nVerses Capital LLC acquired a new stake in Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $33,000. UMB Bank n.a. raised its position in Ultragenyx Pharmaceutical by 58.1% during the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 352 shares during the last quarter. Values First Advisors Inc. acquired a new position in Ultragenyx Pharmaceutical during the third quarter worth $56,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth approximately $107,000. Institutional investors and hedge funds 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.