FY2024 EPS Estimates for RARE Raised by Cantor Fitzgerald

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Equities research analysts at Cantor Fitzgerald upped their FY2024 earnings estimates for shares of Ultragenyx Pharmaceutical in a research note issued to investors on Wednesday, January 15th. Cantor Fitzgerald analyst K. Kluska now forecasts that the biopharmaceutical company will earn ($5.88) per share for the year, up from their previous forecast of ($6.11). Cantor Fitzgerald has a “Overweight” rating and a $116.00 price objective on the stock. The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.21) per share.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) 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 analysts’ expectations of $135.28 million. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The firm’s revenue was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.23) earnings per share.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen upped their price objective on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their price objective on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Canaccord Genuity Group reissued a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Wells Fargo & Company lifted their price target on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, HC Wainwright reissued a “buy” rating and set a $95.00 price objective on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, December 24th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.29.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE opened at $40.85 on Friday. The firm has a market cap of $3.77 billion, a P/E ratio of -6.31 and a beta of 0.58. Ultragenyx Pharmaceutical has a 1 year low of $37.02 and a 1 year high of $60.37. The stock has a 50 day simple moving average of $45.30 and a two-hundred day simple moving average of $49.52.

Insider Buying and Selling

In related 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 transaction of $495,231.21. Following the sale, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $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 SEC, which is available at this link. 5.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently made changes to their positions in RARE. Algert Global LLC increased its position in Ultragenyx Pharmaceutical by 46.9% during the 3rd quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock valued at $4,105,000 after buying an additional 23,580 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Ultragenyx Pharmaceutical during the second quarter valued at $17,468,000. Bamco Inc. NY purchased a new position in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth about $2,666,000. Clearline Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter worth about $1,355,000. Finally, Principal Financial Group Inc. boosted its stake in Ultragenyx Pharmaceutical by 740.0% in the 3rd quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock worth $4,802,000 after purchasing an additional 76,150 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

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.