Q2 2023 Earnings Estimate for Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Issued By Wedbush

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE – Get Rating) – Research analysts at Wedbush lifted their Q2 2023 earnings estimates for Ultragenyx Pharmaceutical in a report released on Monday, May 8th. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will post earnings per share of ($1.77) for the quarter, up from their previous estimate of ($1.78). The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($8.08) per share. Wedbush also issued estimates for Ultragenyx Pharmaceutical’s Q3 2023 earnings at ($1.50) EPS, Q4 2023 earnings at ($1.29) EPS, FY2023 earnings at ($6.87) EPS, Q1 2024 earnings at ($1.11) EPS, Q2 2024 earnings at ($1.09) EPS, Q3 2024 earnings at ($0.97) EPS, Q4 2024 earnings at ($0.95) EPS, FY2024 earnings at ($4.12) EPS and FY2025 earnings at ($0.96) EPS.

A number of other research firms have also recently commented on RARE. Robert W. Baird boosted their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Citigroup reduced their target price on shares of Ultragenyx Pharmaceutical from $135.00 to $130.00 in a research report on Friday, March 17th. StockNews.com began coverage on shares of Ultragenyx Pharmaceutical in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Cantor Fitzgerald began coverage on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, April 26th. They set an “overweight” rating and a $114.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of Ultragenyx Pharmaceutical from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.25.

Ultragenyx Pharmaceutical Stock Up 3.2 %

Shares of RARE stock opened at $48.58 on Wednesday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -4.74 and a beta of 0.94. Ultragenyx Pharmaceutical has a fifty-two week low of $33.36 and a fifty-two week high of $68.68. The firm’s 50 day moving average price is $41.14 and its two-hundred day moving average price is $41.58.

Ultragenyx Pharmaceutical (NASDAQ:RARE – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($2.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.97) by ($0.36). The business had revenue of $100.50 million for the quarter, compared to analyst estimates of $103.90 million. Ultragenyx Pharmaceutical had a negative net margin of 187.31% and a negative return on equity of 149.75%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm earned ($2.19) earnings per share.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

A number of hedge funds have recently modified their holdings of RARE. Raymond James & Associates increased its stake in shares of Ultragenyx Pharmaceutical by 46.0% during the 1st quarter. Raymond James & Associates now owns 13,882 shares of the biopharmaceutical company’s stock worth $1,008,000 after purchasing an additional 4,373 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Ultragenyx Pharmaceutical by 14.6% during the 1st quarter. US Bancorp DE now owns 8,611 shares of the biopharmaceutical company’s stock worth $625,000 after acquiring an additional 1,097 shares during the period. Bank of Montreal Can lifted its holdings in shares of Ultragenyx Pharmaceutical by 22.7% during the 1st quarter. Bank of Montreal Can now owns 40,319 shares of the biopharmaceutical company’s stock worth $2,927,000 after acquiring an additional 7,469 shares during the period. MetLife Investment Management LLC bought a new position in Ultragenyx Pharmaceutical during the 1st quarter valued at about $252,000. Finally, Dimensional Fund Advisors LP increased its position in Ultragenyx Pharmaceutical by 44.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 463,996 shares of the biopharmaceutical company’s stock valued at $33,693,000 after acquiring an additional 141,945 shares in the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Camille L. Bedrosian sold 3,881 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $45.25, for a total transaction of $175,615.25. Following the transaction, the executive vice president now owns 46,720 shares in the company, valued at $2,114,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Ultragenyx Pharmaceutical news, EVP Camille L. Bedrosian sold 3,881 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $45.25, for a total value of $175,615.25. Following the transaction, the executive vice president now owns 46,720 shares in the company, valued at $2,114,080. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Karah Herdman Parschauer sold 4,378 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $197,010.00. Following the completion of the transaction, the executive vice president now directly owns 51,982 shares of the company’s stock, valued at approximately $2,339,190. The disclosure for this sale can be found here. Insiders have sold 9,287 shares of company stock worth $418,116 over the last quarter. 6.70% of the stock is currently owned by company insiders.

Ultragenyx Pharmaceutical Company Profile

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Ultragenyx Pharmaceutical, Inc engages in the identification, acquisition, development, and commercialization of novel products for the treatment of genetic diseases. Its products include Crysvita, Mepsevii, Dojolvi, and Evkeeza. The company was founded by Emil D. Kakkis in April 2010, and is headquartered in Novato, CA.