Ultragenyx Pharmaceutical (NASDAQ:RARE) Announces Earnings Results

Ultragenyx Pharmaceutical (NASDAQ:RARE) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05, Briefing.com reports. The company 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 121.57% and a negative return on equity of 266.02%. Ultragenyx Pharmaceutical’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period in the previous year, the business posted ($2.23) earnings per share. Ultragenyx Pharmaceutical updated its FY 2024 guidance to EPS.

Ultragenyx Pharmaceutical Price Performance

Shares of NASDAQ RARE traded down $1.26 on Wednesday, hitting $50.92. The company’s stock had a trading volume of 850,795 shares, compared to its average volume of 778,063. Ultragenyx Pharmaceutical has a 12-month low of $34.06 and a 12-month high of $60.37. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -6.98 and a beta of 0.58. The stock has a 50 day moving average of $55.47 and a 200-day moving average of $48.09.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RARE shares. The Goldman Sachs Group boosted their price target on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Barclays dropped their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday. Finally, Canaccord Genuity Group boosted their price target on shares of Ultragenyx Pharmaceutical from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Insider Buying and Selling 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 sale, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 that occurred on 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 transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at $124,209,562.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,556 shares of company stock valued at $1,515,967 over the last quarter. Corporate insiders own 5.80% of the company’s stock.

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.