Ultragenyx Pharmaceutical (NASDAQ:RARE) Issues Quarterly Earnings Results

Ultragenyx Pharmaceutical (NASDAQ:RARE) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.06), FiscalAI reports. The business had revenue of $173.00 million for the quarter, compared to analyst estimates of $182.49 million.

Ultragenyx Pharmaceutical Stock Performance

Shares of RARE traded up $0.33 during mid-day trading on Tuesday, reaching $16.63. The stock had a trading volume of 3,668,218 shares, compared to its average volume of 2,851,628. The business has a fifty day moving average of $16.82 and a 200 day moving average of $22.85. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -2.85 and a beta of 0.35. Ultragenyx Pharmaceutical has a 12 month low of $12.73 and a 12 month high of $39.89.

Insider Activity at Ultragenyx Pharmaceutical

In related news, CFO Howard Horn sold 7,066 shares of Ultragenyx Pharmaceutical stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $15.27, for a total transaction of $107,897.82. Following the transaction, the chief financial officer owned 89,229 shares in the company, valued at approximately $1,362,526.83. The trade was a 7.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 8,510 shares of company stock worth $127,561. 5.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RARE has been the subject of several analyst reports. Evercore lowered Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price objective for the company. in a research note on Thursday, September 3rd. William Blair upgraded Ultragenyx Pharmaceutical to a “hold” rating in a research report on Wednesday, September 23rd. Citigroup lifted their target price on Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Cantor Fitzgerald boosted their price target on Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, September 18th. Finally, TD Cowen reduced their price target on Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.65.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.