Q2 2024 EPS Estimates for Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) Boosted by Leerink Partnrs

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Investment analysts at Leerink Partnrs increased their Q2 2024 earnings estimates for shares of Ultragenyx Pharmaceutical in a research report issued to clients and investors on Wednesday, June 19th. Leerink Partnrs analyst J. Schwartz now expects that the biopharmaceutical company will post earnings of ($1.70) per share for the quarter, up from their previous estimate of ($1.88). The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.54) per share. Leerink Partnrs also issued estimates for Ultragenyx Pharmaceutical’s Q3 2024 earnings at ($1.58) EPS, Q4 2024 earnings at ($1.48) EPS, FY2024 earnings at ($6.75) EPS and FY2025 earnings at ($3.88) EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($0.31). Ultragenyx Pharmaceutical had a negative return on equity of 425.63% and a negative net margin of 138.58%. The business had revenue of $108.83 million for the quarter, compared to analyst estimates of $116.03 million. During the same period in the prior year, the company posted ($2.33) EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year.

A number of other equities research analysts also recently commented on the company. TD Cowen raised their target price on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Wedbush raised their price target on Ultragenyx Pharmaceutical from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $115.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, June 12th. The Goldman Sachs Group upgraded Ultragenyx Pharmaceutical from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $67.00 in a report on Thursday, June 6th. Finally, Stifel Nicolaus lifted their price target on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.71.

Ultragenyx Pharmaceutical Trading Up 4.2 %

RARE stock opened at $39.60 on Monday. The company has a market capitalization of $3.29 billion, a P/E ratio of -4.93 and a beta of 0.60. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $54.56. The business has a 50 day simple moving average of $41.55 and a 200-day simple moving average of $45.12.

Insider Transactions at Ultragenyx Pharmaceutical

In other news, EVP Karah Herdman Parschauer sold 9,806 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total transaction of $441,270.00. Following the completion of the transaction, the executive vice president now directly owns 57,981 shares of the company’s stock, valued at $2,609,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Karah Herdman Parschauer sold 9,806 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total transaction of $441,270.00. Following the sale, the executive vice president now owns 57,981 shares in the company, valued at $2,609,145. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $41.10, for a total value of $71,390.70. Following the completion of the sale, the director now owns 7,248 shares in the company, valued at approximately $297,892.80. The disclosure for this sale can be found here. Insiders sold 11,685 shares of company stock valued at $518,923 over the last three months. Company insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Large investors have recently added to or reduced their stakes in the stock. Covestor Ltd raised its position in Ultragenyx Pharmaceutical by 392.1% during the 3rd quarter. Covestor Ltd now owns 748 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 596 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Ultragenyx Pharmaceutical in the 1st quarter worth approximately $28,000. UMB Bank n.a. boosted its stake in shares of Ultragenyx Pharmaceutical by 118.8% in the 4th quarter. UMB Bank n.a. now owns 606 shares of the biopharmaceutical company’s stock worth $29,000 after buying an additional 329 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 622.3% in the 1st quarter. GAMMA Investing LLC now owns 1,004 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 865 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Ultragenyx Pharmaceutical by 34.0% in the 4th quarter. Van ECK Associates Corp now owns 1,578 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 400 shares during the period. 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.