FY2024 Earnings Forecast for RARE Issued By Wedbush

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Wedbush upped their FY2024 EPS estimates for Ultragenyx Pharmaceutical in a report released on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will earn ($5.85) per share for the year, up from their prior forecast of ($5.96). Wedbush currently has a “Neutral” rating and a $48.00 target price on the stock. The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.14) per share. Wedbush also issued estimates for Ultragenyx Pharmaceutical’s Q4 2024 earnings at ($0.98) EPS, Q1 2025 earnings at ($1.07) EPS, Q2 2025 earnings at ($1.00) EPS, Q3 2025 earnings at ($0.85) EPS, Q4 2025 earnings at ($0.82) EPS, FY2025 earnings at ($3.74) EPS, FY2026 earnings at ($0.80) EPS and FY2029 earnings at $3.22 EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.45) by $0.05. The business had revenue of $139.49 million for 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 period last year, the firm earned ($2.23) earnings per share.

Several other equities research analysts have also recently issued reports on RARE. Piper Sandler lifted their price objective on shares of Ultragenyx Pharmaceutical from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $77.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Canaccord Genuity Group reiterated a “buy” rating and issued a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and set a $118.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. decreased their target price on Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.43.

Ultragenyx Pharmaceutical Trading Down 1.8 %

Shares of RARE opened at $43.27 on Monday. The business’s 50 day moving average is $44.55 and its 200 day moving average is $49.67. Ultragenyx Pharmaceutical has a 12-month low of $37.02 and a 12-month high of $60.37. The company has a market capitalization of $4.00 billion, a PE ratio of -6.69 and a beta of 0.58.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Large investors have recently added to or reduced their stakes in the stock. abrdn plc grew its stake in Ultragenyx Pharmaceutical by 25.2% in the fourth quarter. abrdn plc now owns 317,125 shares of the biopharmaceutical company’s stock worth $13,341,000 after purchasing an additional 63,821 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ultragenyx Pharmaceutical by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,580 shares of the biopharmaceutical company’s stock worth $824,000 after buying an additional 1,854 shares during the period. R Squared Ltd bought a new position in shares of Ultragenyx Pharmaceutical during the 4th quarter worth $103,000. KBC Group NV increased its stake in shares of Ultragenyx Pharmaceutical by 2,275.8% during the fourth quarter. KBC Group NV now owns 61,010 shares of the biopharmaceutical company’s stock valued at $2,567,000 after buying an additional 58,442 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,047 shares of the biopharmaceutical company’s stock valued at $928,000 after acquiring an additional 294 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the firm’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 completion of the sale, the chief executive officer now owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.80% of the stock is owned by corporate insiders.

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.