Ultragenyx Pharmaceutical (NASDAQ:RARE) Releases Quarterly Earnings Results, Misses Expectations By $0.31 EPS

Ultragenyx Pharmaceutical (NASDAQ:RARE) issued its earnings results on Thursday. The biopharmaceutical company reported ($2.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.31), Briefing.com reports. The company had revenue of $108.83 million during the quarter, compared to analyst estimates of $116.03 million. Ultragenyx Pharmaceutical had a negative return on equity of 369.54% and a negative net margin of 139.70%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted ($2.33) earnings per share.

Ultragenyx Pharmaceutical Stock Down 1.0 %

RARE stock traded down $0.45 during midday trading on Friday, reaching $42.75. The stock had a trading volume of 1,143,007 shares, compared to its average volume of 767,975. The business has a fifty day simple moving average of $47.38 and a two-hundred day simple moving average of $44.04. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -5.34 and a beta of 0.68. Ultragenyx Pharmaceutical has a twelve month low of $31.52 and a twelve month high of $54.98.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RARE shares. Robert W. Baird lifted their price objective on Ultragenyx Pharmaceutical from $57.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. JPMorgan Chase & Co. lifted their price objective on Ultragenyx Pharmaceutical from $88.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Wedbush cut their price objective on Ultragenyx Pharmaceutical from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Friday. Canaccord Genuity Group lifted their price target on Ultragenyx Pharmaceutical from $110.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $107.00 price target on shares of Ultragenyx Pharmaceutical in a report on Friday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Insider Buying and Selling

In related news, EVP Karah Herdman Parschauer sold 3,756 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $201,922.56. Following the completion of the sale, the executive vice president now directly owns 67,340 shares in the company, valued at $3,620,198.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Karah Herdman Parschauer sold 3,756 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total transaction of $201,922.56. Following the completion of the transaction, the executive vice president now directly owns 67,340 shares in the company, valued at approximately $3,620,198.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Richard Pinion sold 4,173 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.76, for a total value of $224,340.48. Following the transaction, the insider now owns 89,268 shares of the company’s stock, valued at $4,799,047.68. The disclosure for this sale can be found here. Insiders sold a total of 32,116 shares of company stock worth $1,645,983 over the last three months. 6.80% of the stock is currently owned by company insiders.

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.