Leerink Partnrs Has Pessimistic View of RARE FY2024 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Analysts at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for shares of Ultragenyx Pharmaceutical in a note issued to investors on Tuesday, November 5th. Leerink Partnrs analyst J. Schwartz now expects that the biopharmaceutical company will post earnings of ($6.31) per share for the year, down from their prior 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 issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 266.02% and a negative net margin of 121.57%. The business had revenue of $139.49 million during the quarter, compared to analyst estimates of $135.28 million. During the same quarter in the previous year, the firm earned ($2.23) EPS. Ultragenyx Pharmaceutical’s revenue was up 42.3% on a year-over-year basis.

RARE has been the subject of several other research reports. Wedbush upped their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. TD Cowen upped their price target on shares of Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their price target 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. Barclays reduced their price target on shares of Ultragenyx Pharmaceutical from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, The Goldman Sachs Group increased their target price on shares of Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Ultragenyx Pharmaceutical Stock Down 0.2 %

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 has a market capitalization of $4.65 billion, a P/E ratio of -6.91 and a beta of 0.58. The company has a 50-day moving average price of $55.19 and a 200-day moving average price of $48.12.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,465 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total value of $393,853.40. Following the completion of the transaction, the chief financial officer now directly owns 92,301 shares in the company, valued at $4,869,800.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Emil D. Kakkis sold 20,000 shares of the stock in a transaction that occurred on 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 directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Howard Horn sold 7,465 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $4,869,800.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,556 shares of company stock worth $1,515,967 in the last three months. 5.80% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

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

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.