Ultragenyx Pharmaceutical (NASDAQ:RARE) Posts Earnings Results, Beats Expectations By $0.05 EPS

Ultragenyx Pharmaceutical (NASDAQ:RARE) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05, Briefing.com reports. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The firm had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. During the same period in the previous year, the firm posted ($2.23) EPS. The business’s revenue for the quarter was up 42.3% compared to the same quarter last year. Ultragenyx Pharmaceutical updated its FY 2024 guidance to EPS.

Ultragenyx Pharmaceutical Trading Down 0.2 %

Shares of RARE opened at $50.43 on Friday. The firm has a fifty day simple moving average of $55.19 and a two-hundred day simple moving average of $48.12. The firm has a market cap of $4.65 billion, a PE ratio of -6.91 and a beta of 0.58. Ultragenyx Pharmaceutical has a 1-year low of $34.06 and a 1-year high of $60.37.

Insider Transactions at Ultragenyx Pharmaceutical

In related 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 owns 92,301 shares in the company, valued at approximately $4,869,800.76. This represents a 0.00 % 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. In related news, CFO Howard Horn sold 7,465 shares of the business’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 completion of the sale, the chief financial officer now directly owns 92,301 shares in the company, valued at approximately $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,556 shares of company stock worth $1,515,967 in the last ninety days. Insiders own 5.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wedbush boosted their target price on Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Barclays reduced their price objective on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. TD Cowen upped their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $77.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Finally, HC Wainwright boosted their price objective on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a report 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

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.