What is Wedbush’s Estimate for RARE FY2024 Earnings?

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) – Investment analysts at Wedbush lifted their FY2024 earnings estimates for shares of Ultragenyx Pharmaceutical in a research note issued 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 previous estimate 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 issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.40) earnings per share 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 firm had revenue of $139.49 million during the quarter, compared to analysts’ expectations of $135.28 million. During the same period in the prior year, the business posted ($2.23) EPS. The firm’s quarterly revenue was up 42.3% on a year-over-year basis.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $121.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $77.00 target price on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $118.00 price target on shares of Ultragenyx Pharmaceutical in a report on Wednesday, January 22nd. TD Cowen boosted their price target on Ultragenyx Pharmaceutical from $61.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Ultragenyx Pharmaceutical from $105.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.43.

Ultragenyx Pharmaceutical Stock Down 1.8 %

NASDAQ:RARE opened at $42.49 on Monday. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -6.57 and a beta of 0.58. Ultragenyx Pharmaceutical has a 52 week low of $37.02 and a 52 week high of $60.37. The firm has a 50 day moving average of $44.50 and a 200 day moving average of $49.65.

Institutional Trading of Ultragenyx Pharmaceutical

A number of hedge funds have recently added to or reduced their stakes in RARE. Algert Global LLC increased its holdings in Ultragenyx Pharmaceutical by 46.9% in the 3rd quarter. Algert Global LLC now owns 73,902 shares of the biopharmaceutical company’s stock worth $4,105,000 after acquiring an additional 23,580 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter worth approximately $17,468,000. Bamco Inc. NY purchased a new stake in Ultragenyx Pharmaceutical in the 3rd quarter valued at $2,666,000. Principal Financial Group Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 740.0% in the third quarter. Principal Financial Group Inc. now owns 86,440 shares of the biopharmaceutical company’s stock valued at $4,802,000 after purchasing an additional 76,150 shares during the period. Finally, Clearline Capital LP purchased a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $1,355,000. 97.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ultragenyx Pharmaceutical news, CEO Emil D. Kakkis sold 11,727 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,183,985 shares in the company, valued at approximately $92,229,686.55. This represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 5.80% 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.