What is Leerink Partnrs’ Forecast for RARE FY2024 Earnings?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for Ultragenyx Pharmaceutical in a report released on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now expects that the biopharmaceutical company will earn ($6.20) per share for the year, up from their prior forecast of ($6.31). The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.15) per share. Leerink Partnrs also issued estimates for Ultragenyx Pharmaceutical’s Q4 2024 earnings at ($1.31) EPS, Q1 2025 earnings at ($1.39) EPS, Q2 2025 earnings at ($1.32) EPS, Q3 2025 earnings at ($1.27) EPS, Q4 2025 earnings at ($1.18) EPS, FY2025 earnings at ($5.17) EPS and FY2026 earnings at ($2.63) EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.45) by $0.05. The company had revenue of $139.49 million during 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 business’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($2.23) earnings per share.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. 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, November 6th. Piper Sandler boosted their price objective on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $116.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $92.29.

Ultragenyx Pharmaceutical Stock Performance

Ultragenyx Pharmaceutical stock opened at $41.28 on Wednesday. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of -6.38 and a beta of 0.58. Ultragenyx Pharmaceutical has a 52-week low of $37.02 and a 52-week high of $60.37. The firm has a 50 day moving average price of $44.88 and a two-hundred day moving average price of $49.63.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $42.23, for a total value of $495,231.21. Following the sale, the chief executive officer now owns 2,183,985 shares in the company, valued at $92,229,686.55. This represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new position in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $43,000. Values First Advisors Inc. bought a new position in Ultragenyx Pharmaceutical during the 3rd quarter valued at $56,000. Wilmington Savings Fund Society FSB purchased a new position in Ultragenyx Pharmaceutical during the 3rd quarter worth $83,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Ultragenyx Pharmaceutical in the 3rd quarter worth $93,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at about $107,000. Institutional investors and hedge funds own 97.67% 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.