FY2024 EPS Estimates for RARE Increased by Cantor Fitzgerald

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) - Stock analysts at Cantor Fitzgerald upped their FY2024 earnings estimates for shares of Ultragenyx Pharmaceutical in a research report issued to clients and investors on Wednesday, January 15th. Cantor Fitzgerald analyst K. Kluska now forecasts that the biopharmaceutical company will earn ($5.88) per share for the year, up from their previous estimate of ($6.11). Cantor Fitzgerald has a "Overweight" rating and a $116.00 price target 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, beating the consensus estimate of ($1.45) by $0.05. The firm had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. Ultragenyx Pharmaceutical's revenue was up 42.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.23) EPS.

A number of other brokerages have also issued reports on RARE. Canaccord Genuity Group reissued a "buy" rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an "overweight" rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, November 21st. TD Cowen lifted their target price on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, October 21st. Finally, HC Wainwright reissued a "buy" rating and set a $95.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $92.29.

Ultragenyx Pharmaceutical Stock Performance

Shares of Ultragenyx Pharmaceutical stock traded down $0.85 on Friday, reaching $40.00. The company had a trading volume of 794,388 shares, compared to its average volume of 1,213,563. The firm's 50 day moving average price is $45.10 and its two-hundred day moving average price is $49.51. Ultragenyx Pharmaceutical has a 52-week low of $37.02 and a 52-week high of $60.37. The firm has a market cap of $3.69 billion, a PE ratio of -6.18 and a beta of 0.58.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of RARE. Massachusetts Financial Services Co. MA boosted its position in shares of Ultragenyx Pharmaceutical by 38.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 370,247 shares of the biopharmaceutical company's stock worth $15,217,000 after acquiring an additional 103,280 shares in the last quarter. Amalgamated Bank boosted its holdings in Ultragenyx Pharmaceutical by 13.4% in the second quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company's stock valued at $242,000 after purchasing an additional 696 shares in the last quarter. Sei Investments Co. increased its stake in Ultragenyx Pharmaceutical by 39.1% in the second quarter. Sei Investments Co. now owns 91,799 shares of the biopharmaceutical company's stock valued at $3,773,000 after purchasing an additional 25,803 shares during the last quarter. ProShare Advisors LLC raised its holdings in Ultragenyx Pharmaceutical by 83.4% during the second quarter. ProShare Advisors LLC now owns 11,142 shares of the biopharmaceutical company's stock worth $458,000 after purchasing an additional 5,068 shares in the last quarter. Finally, Xponance Inc. lifted its position in shares of Ultragenyx Pharmaceutical by 13.0% during the 2nd quarter. Xponance Inc. now owns 11,091 shares of the biopharmaceutical company's stock worth $456,000 after buying an additional 1,279 shares during the last quarter. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Emil D. Kakkis sold 8,273 shares of Ultragenyx Pharmaceutical stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $50.00, for a total transaction of $413,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,195,712 shares of the company's stock, valued at approximately $109,785,600. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.80% of the stock is owned by insiders.

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.