FY2024 EPS Estimates for RARE Boosted by Cantor Fitzgerald

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Research analysts at Cantor Fitzgerald boosted their FY2024 EPS estimates for Ultragenyx Pharmaceutical in a research report issued on Wednesday, November 6th. Cantor Fitzgerald analyst K. Kluska now expects that the biopharmaceutical company will earn ($6.11) per share for the year, up from their previous estimate of ($6.21). Cantor Fitzgerald 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.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Ultragenyx Pharmaceutical from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. HC Wainwright upped their target price on shares of Ultragenyx Pharmaceutical from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reissued 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 upped their price objective on Ultragenyx Pharmaceutical from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, TD Cowen increased their price objective on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.69.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE stock opened at $50.73 on Monday. Ultragenyx Pharmaceutical has a 52 week low of $34.06 and a 52 week high of $60.37. The stock has a market capitalization of $4.68 billion, a PE ratio of -7.84 and a beta of 0.58. The stock’s fifty day moving average is $54.94 and its 200-day moving average is $48.27.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) EPS for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.05. Ultragenyx Pharmaceutical had a negative return on equity of 187.12% and a negative net margin of 106.93%. The business had revenue of $139.49 million for the quarter, compared to analyst estimates of $135.28 million. During the same period in the prior year, the company earned ($2.23) EPS. Ultragenyx Pharmaceutical’s revenue for the quarter was up 42.3% on a year-over-year basis.

Insider Buying and Selling at Ultragenyx Pharmaceutical

In other news, CEO Emil D. Kakkis sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Howard Horn sold 7,465 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $52.76, for a total transaction of $393,853.40. Following the completion of the sale, the chief financial officer now directly owns 92,301 shares of the company’s stock, valued at approximately $4,869,800.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Emil D. Kakkis sold 20,000 shares of Ultragenyx Pharmaceutical stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $55.85, for a total transaction of $1,117,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,985 shares in the company, valued at approximately $124,209,562.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,556 shares of company stock valued at $1,515,967. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Several large investors have recently made changes to their positions in RARE. UMB Bank n.a. lifted its position in shares of Ultragenyx Pharmaceutical by 58.1% in the second quarter. UMB Bank n.a. now owns 958 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 352 shares in the last quarter. US Bancorp DE increased its position in shares of Ultragenyx Pharmaceutical by 5.8% during the 1st quarter. US Bancorp DE now owns 7,143 shares of the biopharmaceutical company’s stock worth $334,000 after purchasing an additional 390 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Ultragenyx Pharmaceutical by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 20,744 shares of the biopharmaceutical company’s stock worth $853,000 after purchasing an additional 434 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Ultragenyx Pharmaceutical by 8.7% in the first quarter. ProShare Advisors LLC now owns 6,074 shares of the biopharmaceutical company’s stock valued at $284,000 after buying an additional 486 shares in the last quarter. Finally, KBC Group NV raised its position in Ultragenyx Pharmaceutical by 24.5% during the third quarter. KBC Group NV now owns 2,568 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 506 shares in the last quarter. Institutional investors 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.