Wedbush Has Pessimistic Outlook of RARE FY2024 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Analysts at Wedbush dropped their FY2024 EPS estimates for shares of Ultragenyx Pharmaceutical in a report released 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 estimate 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) 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. The company had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 197.73% and a negative net margin of 106.93%. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. During the same quarter last year, the company posted ($2.23) earnings per share.

A number of other equities research analysts have also issued reports on RARE. Wells Fargo & Company upped their target price on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group upped their price objective on Ultragenyx Pharmaceutical from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen boosted their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group raised their target price on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Price Performance

NASDAQ:RARE opened at $50.36 on Friday. Ultragenyx Pharmaceutical has a 1-year low of $34.06 and a 1-year high of $60.37. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -7.78 and a beta of 0.58. The firm’s fifty day moving average price is $55.06 and its 200 day moving average price is $48.17.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly 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 can be accessed through this hyperlink. In other news, CFO Howard Horn sold 7,465 shares of the company’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 sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,223,985 shares of the company’s stock, valued at $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. In the last 90 days, insiders have sold 27,556 shares of company stock valued at $1,515,967. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Ultragenyx Pharmaceutical in the 1st quarter valued at approximately $28,000. nVerses Capital LLC bought a new stake in Ultragenyx Pharmaceutical in the second quarter valued at $33,000. UMB Bank n.a. grew its holdings in shares of 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 during the last quarter. Values First Advisors Inc. bought a new position in Ultragenyx Pharmaceutical during the 3rd quarter valued at about $56,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at about $107,000. Hedge funds and other institutional investors 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.