What is Wedbush's Estimate for RARE FY2024 Earnings?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) - Wedbush lowered their FY2024 earnings per share (EPS) estimates for Ultragenyx Pharmaceutical in a research report issued on Wednesday, November 6th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings per share of ($5.96) for the year, down from their prior forecast of ($5.66). Wedbush currently has a "Neutral" rating and a $46.00 target price on the stock. The consensus estimate for Ultragenyx Pharmaceutical's current full-year earnings is ($6.29) per share. Wedbush also issued estimates for Ultragenyx Pharmaceutical's Q4 2024 earnings at ($1.09) EPS, Q1 2025 earnings at ($1.06) EPS, Q2 2025 earnings at ($1.13) EPS, Q3 2025 earnings at ($0.97) EPS, Q4 2025 earnings at ($0.84) EPS, FY2025 earnings at ($4.00) EPS and FY2026 earnings at ($0.83) EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 197.73% and a negative net margin of 106.93%. The company had revenue of $139.49 million during the quarter, compared to analysts' expectations of $135.28 million. During the same period last year, the firm posted ($2.23) earnings per share. The business's revenue was up 42.3% on a year-over-year basis.

A number of other analysts have also recently issued reports on RARE. TD Cowen raised their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price target on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Canaccord Genuity Group lifted their price target on Ultragenyx Pharmaceutical from $109.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays dropped their price target on Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an "overweight" rating for the company in a report on Monday, August 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $86.69.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE traded down $0.07 during mid-day trading on Friday, reaching $50.36. The company's stock had a trading volume of 1,246,767 shares, compared to its average volume of 783,398. Ultragenyx Pharmaceutical has a 1-year low of $34.06 and a 1-year high of $60.37. The business has a 50-day simple moving average of $55.19 and a two-hundred day simple moving average of $48.12.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of RARE. Headlands Technologies LLC acquired a new position in Ultragenyx Pharmaceutical in the 1st quarter worth about $28,000. nVerses Capital LLC acquired a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth about $33,000. UMB Bank n.a. increased its holdings in Ultragenyx Pharmaceutical by 58.1% in the 2nd quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 352 shares in the last quarter. Values First Advisors Inc. acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth about $56,000. Finally, Capital Performance Advisors LLP acquired a new position in Ultragenyx Pharmaceutical in the 3rd quarter worth about $107,000. Institutional investors and hedge funds own 97.67% of the company's stock.

Insider Activity

In other news, CFO Howard Horn sold 7,465 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Howard Horn sold 7,465 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the business's stock in a transaction 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 transaction, 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. In the last three months, insiders sold 27,556 shares of company stock worth $1,515,967. 5.80% of the stock is currently owned by company 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.