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

Ultragenyx Pharmaceutical (NASDAQ:RARE) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05, Briefing.com reports. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The company had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same quarter last year, the firm posted ($2.23) earnings per share. The firm’s revenue was up 42.3% on a year-over-year basis. Ultragenyx Pharmaceutical updated its FY 2024 guidance to EPS.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE stock traded down $0.09 during trading hours on Thursday, reaching $50.43. 706,135 shares of the company traded hands, compared to its average volume of 781,253. Ultragenyx Pharmaceutical has a 12-month low of $34.06 and a 12-month high of $60.37. The company has a market cap of $4.65 billion, a P/E ratio of -6.91 and a beta of 0.58. The firm has a 50-day moving average price of $55.19 and a 200 day moving average price of $48.12.

Analysts Set New Price Targets

A number of research firms have issued reports on RARE. HC Wainwright increased their price objective on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Canaccord Genuity Group increased their price objective on Ultragenyx Pharmaceutical from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Finally, Wedbush raised their price target on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction that occurred 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 directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,556 shares of company stock valued at $1,515,967. 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.