Ultragenyx Pharmaceutical (NASDAQ:RARE) Issues Earnings Results

Ultragenyx Pharmaceutical (NASDAQ:RARE) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.32, Zacks reports. The company had revenue of $214.00 million during the quarter, compared to the consensus estimate of $183.08 million. Ultragenyx Pharmaceutical had a negative net margin of 81.79% and a negative return on equity of 1,024.42%. The company’s quarterly revenue was up 28.5% on a year-over-year basis. During the same quarter last year, the firm posted ($1.17) EPS.

Here are the key takeaways from Ultragenyx Pharmaceutical’s conference call:

• Record quarterly revenue reached $214 million, up from contributions across Crysvita ($156 million), DOJOLVI ($27 million), Evkeeza ($21 million, up 50% year over year), and MEPSEVII ($10 million). Management reaffirmed full-year revenue and operating-expense guidance.
• Ultragenyx is preparing for potential FDA decisions on its first two gene therapies: DTX-401 for GSDIa on August 23 and UX-111 for Sanfilippo syndrome type A on September 19. The company said payer engagement, Qualified Treatment Center contracting, and launch preparations are progressing as planned.
• The Phase III ASPIRE trial of GTX-102 for Angelman syndrome remains on track for top-line results in September or October. Management said either the Bayley-4 cognition endpoint or the clinically meaningful Multi-Domain Responder Index could independently establish statistical success, although the results remain uncertain.
• Management reiterated a path to profitability in 2027, supported by double-digit growth from existing products, potential gene-therapy launches, expense discipline, and possible non-dilutive proceeds from monetizing priority review vouchers. The company ended the quarter with $436 million in cash and marketable securities.
• Setrusumab’s regulatory path remains uncertain after Phase III studies failed to meet their primary fracture-reduction endpoints. The FDA is considering alternative fracture analyses, but additional clinical data may be required, and the U.K. regulator indicated that a new randomized study could be necessary.

Ultragenyx Pharmaceutical Stock Performance

Shares of NASDAQ RARE traded up $0.33 during trading hours on Thursday, reaching $25.26. 246,703 shares of the stock were exchanged, compared to its average volume of 2,217,788. The stock’s fifty day simple moving average is $27.80 and its 200 day simple moving average is $24.77. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -4.32 and a beta of 0.35. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $39.89.

Insider Transactions at Ultragenyx Pharmaceutical

In other Ultragenyx Pharmaceutical news, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $24.62, for a total transaction of $46,753.38. Following the transaction, the executive vice president owned 94,462 shares in the company, valued at $2,325,654.44. This trade represents a 1.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Horn sold 4,653 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $23.77, for a total transaction of $110,601.81. Following the completion of the sale, the chief financial officer directly owned 105,689 shares of the company’s stock, valued at approximately $2,512,227.53. The trade was a 4.22% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 14,292 shares of company stock valued at $351,644. Corporate insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RARE. Danske Bank A S bought a new stake in shares of Ultragenyx Pharmaceutical in the third quarter valued at approximately $39,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Ultragenyx Pharmaceutical during the 4th quarter valued at $56,000. Smartleaf Asset Management LLC grew its holdings in shares of Ultragenyx Pharmaceutical by 43.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,489 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 751 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Ultragenyx Pharmaceutical in the fourth quarter worth $66,000. Finally, Van ECK Associates Corp lifted its position in Ultragenyx Pharmaceutical by 26.1% during the third quarter. Van ECK Associates Corp now owns 2,650 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 549 shares during the period. 97.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RARE. Cantor Fitzgerald boosted their price target on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Weiss Ratings raised Ultragenyx Pharmaceutical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. Barclays dropped their price target on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Guggenheim cut their price target on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Wall Street Zen raised shares of Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ultragenyx Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $57.82.

About Ultragenyx Pharmaceutical

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.