FY2024 EPS Estimates for RARE Boosted by Cantor Fitzgerald

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Stock analysts at Cantor Fitzgerald lifted their FY2024 earnings per share (EPS) estimates for shares of Ultragenyx Pharmaceutical in a research note issued on Wednesday, January 15th. Cantor Fitzgerald analyst K. Kluska now expects that the biopharmaceutical company will post earnings per share of ($5.88) for the year, up from their previous forecast of ($6.11). Cantor Fitzgerald currently has a “Overweight” rating and a $116.00 price objective on the stock. The consensus estimate for Ultragenyx Pharmaceutical’s current full-year earnings is ($6.21) per share.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data 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 company had revenue of $139.49 million during the quarter, compared to the consensus estimate of $135.28 million. Ultragenyx Pharmaceutical had a negative net margin of 106.93% and a negative return on equity of 187.12%. The company’s quarterly revenue was up 42.3% on a year-over-year basis. During the same quarter last year, the firm posted ($2.23) EPS.

A number of other research firms have also weighed in on RARE. Royal Bank of Canada reissued an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a report on Wednesday, November 6th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $121.00 price objective on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Wedbush reissued a “neutral” rating and issued a $48.00 price objective (up from $46.00) on shares of Ultragenyx Pharmaceutical in a research report on Monday, January 13th. Wells Fargo & Company lifted their target price on shares of Ultragenyx Pharmaceutical from $75.00 to $88.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, 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 note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $92.29.

Ultragenyx Pharmaceutical Stock Down 2.1 %

Shares of NASDAQ RARE opened at $40.00 on Friday. The business’s 50 day moving average price is $45.10 and its two-hundred day moving average price is $49.51. The company has a market cap of $3.69 billion, a PE ratio of -6.18 and a beta of 0.58. Ultragenyx Pharmaceutical has a twelve month low of $37.02 and a twelve month high of $60.37.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of Ultragenyx Pharmaceutical stock in a transaction on Monday, December 30th. The stock was sold at an average price of $42.23, for a total value of $495,231.21. Following the completion of the transaction, the chief executive officer now directly owns 2,183,985 shares of the company’s stock, valued at $92,229,686.55. The trade was a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.80% of the stock is owned by company insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in Ultragenyx Pharmaceutical by 38.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 370,247 shares of the biopharmaceutical company’s stock valued at $15,217,000 after buying an additional 103,280 shares during the period. Amalgamated Bank boosted its position in shares of Ultragenyx Pharmaceutical by 13.4% during the 2nd quarter. Amalgamated Bank now owns 5,896 shares of the biopharmaceutical company’s stock worth $242,000 after acquiring an additional 696 shares in the last quarter. Sei Investments Co. increased its stake in Ultragenyx Pharmaceutical by 39.1% in the second quarter. Sei Investments Co. now owns 91,799 shares of the biopharmaceutical company’s stock valued at $3,773,000 after acquiring an additional 25,803 shares during the last quarter. ProShare Advisors LLC increased its stake in Ultragenyx Pharmaceutical by 83.4% in the second quarter. ProShare Advisors LLC now owns 11,142 shares of the biopharmaceutical company’s stock valued at $458,000 after acquiring an additional 5,068 shares during the last quarter. Finally, Xponance Inc. raised its position in Ultragenyx Pharmaceutical by 13.0% during the second quarter. Xponance Inc. now owns 11,091 shares of the biopharmaceutical company’s stock valued at $456,000 after purchasing an additional 1,279 shares in the last quarter. 97.67% of the stock is owned by institutional investors and hedge funds.

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.