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

Ultragenyx Pharmaceutical (NASDAQ:RARE) released its earnings results on Tuesday. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $135.28 million. During the same period in the prior year, the firm posted ($2.23) earnings per share. The business’s quarterly revenue was up 42.3% compared to the same quarter last year. Ultragenyx Pharmaceutical updated its FY 2024 guidance to EPS.

Ultragenyx Pharmaceutical Price Performance

Ultragenyx Pharmaceutical stock traded up $0.01 during midday trading on Thursday, hitting $50.53. 118,674 shares of the company were exchanged, compared to its average volume of 778,450. The company has a market cap of $4.66 billion, a PE ratio of -6.92 and a beta of 0.58. Ultragenyx Pharmaceutical has a fifty-two week low of $34.06 and a fifty-two week high of $60.37. The company’s fifty day moving average price is $55.32 and its 200-day moving average price is $48.11.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RARE shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $116.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday. Wedbush lifted their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. TD Cowen upped their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, October 21st. HC Wainwright lifted their target price on Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.69.

Insider Activity

In other news, CEO Emil D. Kakkis sold 20,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $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 can be accessed through this link. In related news, CFO Howard Horn sold 7,465 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was 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 approximately $4,869,800.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of the firm’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 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 approximately $124,209,562.25. This trade represents 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 worth $1,515,967 over the last 90 days. Company 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.