What is Wedbush's Estimate for RARE FY2028 Earnings?

Key Points

• Wedbush has lowered its FY2028 earnings per share estimate for Ultragenyx Pharmaceutical to $0.28, down from a previous forecast of $0.31, while maintaining a "Neutral" rating and a target price of $34.00.
• Despite the adjustments, Ultragenyx reported better-than-expected quarterly earnings of ($1.17) per share, exceeding the consensus estimate of (1.27), with revenue up 13.2% year-over-year.
• Hedge funds own approximately 97.67% of Ultragenyx shares, with significant ownership changes and increases reported among several institutional investors during the recent quarters.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE - Free Report) - Equities research analysts at Wedbush decreased their FY2028 earnings per share (EPS) estimates for Ultragenyx Pharmaceutical in a research report issued to clients and investors on Wednesday, August 6th. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will earn $0.28 per share for the year, down from their prior forecast of $0.31. Wedbush currently has a "Neutral" rating and a $34.00 target price on the stock. The consensus estimate for Ultragenyx Pharmaceutical's current full-year earnings is ($5.18) per share. Wedbush also issued estimates for Ultragenyx Pharmaceutical's FY2029 earnings at $1.83 EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, topping the consensus estimate of ($1.27) by $0.10. The company had revenue of $166.50 million during the quarter, compared to analyst estimates of $161.37 million. Ultragenyx Pharmaceutical had a negative return on equity of 214.21% and a negative net margin of 87.34%. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.52) earnings per share.

Other research analysts have also recently issued reports about the company. Guggenheim restated a "buy" rating and set a $64.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Friday, June 20th. Cantor Fitzgerald decreased their price target on Ultragenyx Pharmaceutical from $112.00 to $105.00 and set an "overweight" rating on the stock in a research note on Wednesday. William Blair began coverage on Ultragenyx Pharmaceutical in a research note on Wednesday, May 28th. They set an "outperform" rating and a $65.00 price target on the stock. HC Wainwright upgraded Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 price objective on the stock in a research note on Monday, July 28th. Finally, Wells Fargo & Company reduced their price objective on Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $82.17.

Ultragenyx Pharmaceutical Stock Down 1.2%

NASDAQ:RARE traded down $0.35 during trading hours on Friday, reaching $27.49. 345,205 shares of the stock were exchanged, compared to its average volume of 1,284,451. The business has a 50-day moving average of $33.45 and a two-hundred day moving average of $36.87. Ultragenyx Pharmaceutical has a twelve month low of $25.81 and a twelve month high of $60.37. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -4.98 and a beta of 0.25.

Insiders Place Their Bets

In other Ultragenyx Pharmaceutical news, Director Corazon (Corsee) D. Sanders sold 2,405 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $37.39, for a total transaction of $89,922.95. Following the transaction, the director owned 15,344 shares of the company's stock, valued at approximately $573,712.16. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Several hedge funds have recently made changes to their positions in RARE. GAMMA Investing LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 76.2% during the first quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 323 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 1,061.9% during the second quarter. Parallel Advisors LLC now owns 732 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 669 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Ultragenyx Pharmaceutical during the fourth quarter worth about $35,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth about $57,000. Finally, Headlands Technologies LLC purchased a new position in shares of Ultragenyx Pharmaceutical during the first quarter worth about $59,000. Hedge funds and other 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.

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