Wedbush Has Bearish Outlook for RARE FY2027 Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) - Equities research analysts at Wedbush dropped their FY2027 earnings estimates for Ultragenyx Pharmaceutical in a report issued on Tuesday, July 15th. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will post earnings of ($1.49) per share for the year, down from their previous estimate of ($1.46). Wedbush has a "Neutral" rating and a $34.00 price objective on the stock. The consensus estimate for Ultragenyx Pharmaceutical's current full-year earnings is ($5.18) per share.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($0.03). Ultragenyx Pharmaceutical had a negative net margin of 93.04% and a negative return on equity of 186.49%. The company had revenue of $139.29 million during the quarter, compared to the consensus estimate of $145.98 million. During the same period last year, the firm posted ($2.03) earnings per share. The company's revenue for the quarter was up 28.0% on a year-over-year basis.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Guggenheim reiterated a "buy" rating and set a $64.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Friday, June 20th. William Blair began coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They set an "outperform" rating and a $65.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Ultragenyx Pharmaceutical from $104.00 to $117.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Finally, Morgan Stanley reduced their price objective on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Monday. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.64.

Ultragenyx Pharmaceutical Stock Up 0.4%

RARE traded up $0.10 during midday trading on Thursday, hitting $27.41. The company had a trading volume of 2,147,403 shares, compared to its average volume of 963,114. Ultragenyx Pharmaceutical has a 52 week low of $26.85 and a 52 week high of $60.37. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -4.66 and a beta of 0.26. The stock's 50 day moving average price is $35.83 and its 200 day moving average price is $38.36.

Insiders Place Their Bets

In related news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $37.39, for a total transaction of $89,922.95. Following the transaction, the director directly owned 15,344 shares in the company, valued at approximately $573,712.16. The trade was a 13.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 3,167 shares of company stock worth $118,824 in the last 90 days. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. boosted its stake in shares of Ultragenyx Pharmaceutical by 81.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company's stock valued at $77,815,000 after purchasing an additional 965,919 shares in the last quarter. Norges Bank bought a new position in shares of Ultragenyx Pharmaceutical in the 4th quarter worth about $40,463,000. Assenagon Asset Management S.A. increased its stake in shares of Ultragenyx Pharmaceutical by 439.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,163,755 shares of the biopharmaceutical company's stock worth $42,314,000 after acquiring an additional 947,865 shares in the last quarter. Vestal Point Capital LP grew its position in Ultragenyx Pharmaceutical by 100.0% during the 4th quarter. Vestal Point Capital LP now owns 1,500,000 shares of the biopharmaceutical company's stock valued at $63,105,000 after purchasing an additional 750,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Ultragenyx Pharmaceutical by 28.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company's stock valued at $116,559,000 after purchasing an additional 706,519 shares during the last quarter. Institutional investors own 97.67% of the company's stock.

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.