Leerink Partnrs Has Positive Outlook of RARE FY2024 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of Ultragenyx Pharmaceutical in a research report issued to clients and investors on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now anticipates that the biopharmaceutical company will post earnings per share of ($6.20) for the year, up from their previous forecast of ($6.31). The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.14) per share. Leerink Partnrs also issued estimates for Ultragenyx Pharmaceutical’s Q4 2024 earnings at ($1.31) EPS, Q1 2025 earnings at ($1.39) EPS, Q2 2025 earnings at ($1.32) EPS, Q3 2025 earnings at ($1.27) EPS, Q4 2025 earnings at ($1.18) EPS, FY2025 earnings at ($5.17) EPS and FY2026 earnings at ($2.63) EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results 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. The business had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. Ultragenyx Pharmaceutical’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.23) earnings per share.

Several other equities research analysts have also recently issued reports on RARE. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Piper Sandler increased their price objective on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Ultragenyx Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $92.43.

Ultragenyx Pharmaceutical Stock Up 4.4 %

Shares of NASDAQ:RARE opened at $44.85 on Wednesday. Ultragenyx Pharmaceutical has a 12-month low of $37.02 and a 12-month high of $60.37. The stock has a market cap of $4.14 billion, a PE ratio of -6.93 and a beta of 0.58. The business has a 50 day moving average of $44.63 and a 200-day moving average of $49.59.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Large investors have recently modified their holdings of the stock. Amalgamated Bank boosted its stake in Ultragenyx Pharmaceutical by 13.4% during the second quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company’s stock worth $242,000 after acquiring an additional 696 shares in the last quarter. Sei Investments Co. increased its holdings in Ultragenyx Pharmaceutical by 39.1% during the second quarter. Sei Investments Co. now owns 91,799 shares of the biopharmaceutical company’s stock valued at $3,773,000 after buying an additional 25,803 shares during the last quarter. ProShare Advisors LLC increased 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 valued at $458,000 after buying an additional 5,068 shares during the last quarter. Xponance Inc. increased its stake in shares of Ultragenyx Pharmaceutical by 13.0% in the second quarter. Xponance Inc. now owns 11,091 shares of the biopharmaceutical company’s stock worth $456,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Ultragenyx Pharmaceutical by 16.9% in the second quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock worth $46,570,000 after purchasing an additional 164,110 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the transaction, the chief executive officer now owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by 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.