Leerink Partnrs Has Pessimistic View of RARE FY2024 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Equities research analysts at Leerink Partnrs decreased their FY2024 earnings estimates for Ultragenyx Pharmaceutical in a research note issued on Tuesday, November 5th. Leerink Partnrs analyst J. Schwartz now forecasts that the biopharmaceutical company will post earnings per share of ($6.31) for the year, down from their previous estimate of ($6.27). The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.29) per share. Leerink Partnrs also issued estimates for Ultragenyx Pharmaceutical’s Q4 2024 earnings at ($1.41) EPS, Q1 2025 earnings at ($1.47) EPS, Q2 2025 earnings at ($1.38) EPS, Q3 2025 earnings at ($1.33) EPS, Q4 2025 earnings at ($1.26) EPS, FY2025 earnings at ($5.44) EPS and FY2026 earnings at ($2.42) EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping the consensus estimate of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 121.57% and a negative return on equity of 266.02%. The firm had revenue of $139.49 million for the quarter, compared to the consensus estimate of $135.28 million. During the same period last year, the firm posted ($2.23) earnings per share. The business’s revenue was up 42.3% compared to the same quarter last year.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Wednesday. The Goldman Sachs Group lifted their target price 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. Barclays decreased their target price 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. Wells Fargo & Company boosted their price objective on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Ultragenyx Pharmaceutical Stock Down 0.2 %

Shares of NASDAQ RARE opened at $50.43 on Friday. Ultragenyx Pharmaceutical has a 52 week low of $34.06 and a 52 week high of $60.37. The firm’s fifty day moving average is $55.19 and its 200 day moving average is $48.12. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -6.91 and a beta of 0.58.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently bought and sold shares of RARE. Millennium Management LLC boosted its stake in Ultragenyx Pharmaceutical by 103.8% in the 2nd quarter. Millennium Management LLC now owns 1,850,734 shares of the biopharmaceutical company’s stock worth $76,065,000 after purchasing an additional 942,529 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in Ultragenyx Pharmaceutical by 137.1% in the 1st quarter. Avoro Capital Advisors LLC now owns 830,000 shares of the biopharmaceutical company’s stock worth $38,753,000 after purchasing an additional 480,000 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in Ultragenyx Pharmaceutical in the 2nd quarter worth about $17,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Ultragenyx Pharmaceutical by 513.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 507,095 shares of the biopharmaceutical company’s stock worth $23,677,000 after purchasing an additional 424,476 shares in the last quarter. Finally, Artal Group S.A. purchased a new position in Ultragenyx Pharmaceutical in the 1st quarter worth about $8,308,000. Institutional investors own 97.67% of the company’s stock.

Insider Activity

In other news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 dated Thursday, October 10th. The shares were sold at an average price of $52.76, for a total value of $393,853.40. Following the transaction, the chief financial officer now owns 92,301 shares in the company, valued at $4,869,800.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was 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 worth $1,515,967. Corporate insiders own 5.80% 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.