Ultragenyx Pharmaceutical (NASDAQ:RARE) Issues Quarterly Earnings Results

Ultragenyx Pharmaceutical (NASDAQ:RARE) issued its earnings results on Thursday. The biopharmaceutical company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.64) by $0.12, Briefing.com reports. The company had revenue of $147.03 million during the quarter, compared to analysts’ expectations of $123.20 million. Ultragenyx Pharmaceutical had a negative return on equity of 392.36% and a negative net margin of 121.57%. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business earned ($2.25) EPS. Ultragenyx Pharmaceutical updated its FY 2024 guidance to EPS.

Ultragenyx Pharmaceutical Price Performance

Shares of RARE traded up $6.32 during mid-day trading on Friday, reaching $50.47. The company’s stock had a trading volume of 2,696,535 shares, compared to its average volume of 694,280. Ultragenyx Pharmaceutical has a 12-month low of $31.52 and a 12-month high of $54.56. The stock has a market cap of $4.20 billion, a PE ratio of -6.29 and a beta of 0.56. The company’s 50 day moving average is $42.00 and its 200 day moving average is $44.48.

Insider Activity

In other news, EVP Karah Herdman Parschauer sold 9,806 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total value of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares in the company, valued at approximately $2,609,145. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Corazon (Corsee) D. Sanders sold 1,737 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $41.10, for a total transaction of $71,390.70. Following the transaction, the director now owns 7,248 shares in the company, valued at approximately $297,892.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Karah Herdman Parschauer sold 9,806 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $45.00, for a total value of $441,270.00. Following the transaction, the executive vice president now owns 57,981 shares in the company, valued at approximately $2,609,145. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,127 shares of company stock worth $536,593. 5.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on RARE. TD Cowen upped their price target on Ultragenyx Pharmaceutical from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Cantor Fitzgerald upped their price target on Ultragenyx Pharmaceutical from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus upped their price target on Ultragenyx Pharmaceutical from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Wells Fargo & Company upped their price target on Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group upped their price target on Ultragenyx Pharmaceutical from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and twelve 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 an average price target of $87.92.

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.