What is Wedbush's Forecast 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 researchers at Wedbush cut their FY2028 EPS estimates for Ultragenyx Pharmaceutical in a report released on Wednesday, August 6th. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will post earnings of $0.28 per share for the year, down from their prior estimate 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 posted 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. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The firm had revenue of $166.50 million during the quarter, compared to analysts' expectations of $161.37 million. During the same quarter in the previous year, the company posted ($1.52) EPS. Ultragenyx Pharmaceutical's revenue was up 13.2% on a year-over-year basis.

A number of other analysts have also commented on the stock. HC Wainwright raised shares of Ultragenyx Pharmaceutical to a "buy" rating and set a $80.00 target price for the company in a report on Monday, July 28th. William Blair initiated coverage on shares of Ultragenyx Pharmaceutical in a report on Wednesday, May 28th. They set an "outperform" rating and a $65.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Ultragenyx Pharmaceutical from $88.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Morgan Stanley lowered their target price on shares of Ultragenyx Pharmaceutical from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Monday, July 14th. Finally, Guggenheim reissued a "buy" rating and issued a $64.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday, June 20th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Ultragenyx Pharmaceutical Stock Up 2.6%

RARE stock traded up $0.72 during trading on Friday, hitting $28.11. The company had a trading volume of 1,128,461 shares, compared to its average volume of 1,295,167. The firm has a 50-day moving average price of $33.15 and a 200-day moving average price of $36.56. Ultragenyx Pharmaceutical has a 12 month low of $25.81 and a 12 month high of $60.37. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -5.08 and a beta of 0.25.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its position in Ultragenyx Pharmaceutical by 1,061.9% during the 2nd quarter. Parallel Advisors LLC now owns 732 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 669 shares in the last quarter. GAMMA Investing LLC lifted its position in Ultragenyx Pharmaceutical by 76.2% during the 1st quarter. GAMMA Investing LLC now owns 747 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 323 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Ultragenyx Pharmaceutical during the 4th quarter worth about $35,000. ANTIPODES PARTNERS Ltd bought a new stake in Ultragenyx Pharmaceutical during the 1st quarter worth about $57,000. Finally, Headlands Technologies LLC bought a new stake in Ultragenyx Pharmaceutical during the 1st quarter worth about $59,000. 97.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical 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 sale, the director directly owned 15,344 shares of the company's stock, valued at $573,712.16. The trade was a 13.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.50% 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.