Research Analysts Offer Predictions for RARE FY2024 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Analysts at Leerink Partnrs raised their FY2024 earnings estimates for Ultragenyx Pharmaceutical in a note issued to investors on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now forecasts 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 ($6.14) 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.

A number of other brokerages have also recently weighed in on RARE. Wedbush reiterated a “neutral” rating and issued a $48.00 price objective (up previously from $46.00) on shares of Ultragenyx Pharmaceutical in a research note on Monday, January 13th. Wells Fargo & Company upped their target price on Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Piper Sandler increased their target price on Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Finally, TD Cowen raised their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.43.

Ultragenyx Pharmaceutical Price Performance

NASDAQ RARE opened at $44.85 on Wednesday. The company has a market cap of $4.14 billion, a P/E ratio of -6.93 and a beta of 0.58. The stock has a 50-day moving average of $44.63 and a two-hundred day moving average of $49.59. Ultragenyx Pharmaceutical has a 1-year low of $37.02 and a 1-year high of $60.37.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The firm had revenue of $139.49 million for the quarter, compared to analysts’ expectations of $135.28 million. During the same quarter last year, the company earned ($2.23) EPS. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CEO Emil D. Kakkis sold 8,273 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $50.00, for a total transaction of $413,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,195,712 shares of the company’s stock, valued at $109,785,600. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of RARE. Alkeon Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 34.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,011,716 shares of the biopharmaceutical company’s stock valued at $167,301,000 after buying an additional 769,884 shares during the last quarter. Millennium Management LLC boosted its position 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 valued at $76,065,000 after buying an additional 942,529 shares during the last quarter. Baker BROS. Advisors LP boosted its position in Ultragenyx Pharmaceutical by 7.5% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,576,114 shares of the biopharmaceutical company’s stock valued at $87,553,000 after buying an additional 109,567 shares during the last quarter. Geode Capital Management LLC boosted its position in Ultragenyx Pharmaceutical by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,571,081 shares of the biopharmaceutical company’s stock valued at $87,296,000 after buying an additional 65,623 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Ultragenyx Pharmaceutical by 16.9% in the 2nd quarter. Marshall Wace LLP now owns 1,133,100 shares of the biopharmaceutical company’s stock valued at $46,570,000 after buying an additional 164,110 shares during the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

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.