Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) – Analysts at Jefferies Financial Group cut their FY2023 EPS estimates for Ultragenyx Pharmaceutical in a research report issued on Wednesday, November 6th. Jefferies Financial Group analyst M. Raycroft now anticipates that the biopharmaceutical company will post earnings of $4.93 per share for the year, down from their prior estimate of $5.07.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.71) by ($0.25). The business had revenue of $25.80 million for the quarter, compared to the consensus estimate of $28.88 million. Ultragenyx Pharmaceutical had a negative return on equity of 51.40% and a negative net margin of 470.18%. The company’s revenue for the quarter was up 119.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.74) earnings per share.
Other equities research analysts have also recently issued reports about the company. Wedbush reiterated a “buy” rating and set a $75.00 target price on shares of Ultragenyx Pharmaceutical in a research note on Thursday, August 15th. Leerink Swann reiterated a “positive” rating and set a $85.00 target price (up from $80.00) on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, September 4th. Morgan Stanley lowered their target price on Ultragenyx Pharmaceutical from $79.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday. ValuEngine cut Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $75.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $71.92.
Shares of NASDAQ RARE traded up $1.40 during mid-day trading on Friday, reaching $38.90. 481,700 shares of the company’s stock were exchanged, compared to its average volume of 546,206. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -5.26 and a beta of 2.15. Ultragenyx Pharmaceutical has a 52 week low of $36.73 and a 52 week high of $74.50. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.32 and a quick ratio of 9.14. The firm has a 50-day moving average price of $42.04 and a two-hundred day moving average price of $54.48.
In other news, CEO Emil D. Kakkis acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average price of $43.63 per share, with a total value of $218,150.00. Following the acquisition, the chief executive officer now owns 472,479 shares in the company, valued at approximately $20,614,258.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.80% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. NumerixS Investment Technologies Inc purchased a new stake in Ultragenyx Pharmaceutical in the 2nd quarter worth about $25,000. Cutler Group LP purchased a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at about $31,000. First Mercantile Trust Co. grew its holdings in Ultragenyx Pharmaceutical by 16.9% during the 2nd quarter. First Mercantile Trust Co. now owns 1,151 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 166 shares in the last quarter. Smith Asset Management Group LP grew its holdings in Ultragenyx Pharmaceutical by 22.6% during the 2nd quarter. Smith Asset Management Group LP now owns 1,680 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 310 shares in the last quarter. Finally, CSat Investment Advisory L.P. purchased a new position in Ultragenyx Pharmaceutical during the 2nd quarter valued at about $114,000.
About Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. The company was founded by Emil D.
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