Ultragenyx Pharmaceutical (NASDAQ:RARE) Issues Earnings Results

Ultragenyx Pharmaceutical (NASDAQ:RARE) posted its earnings results on Tuesday. The biopharmaceutical company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32, Zacks reports. Ultragenyx Pharmaceutical had a negative net margin of 91.03% and a negative return on equity of 1,024.42%. The company’s revenue was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($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 $0.79 during midday trading on Tuesday, reaching $25.81. The stock had a trading volume of 2,103,532 shares, compared to its average volume of 2,228,654. The company’s 50 day moving average price is $27.71 and its 200 day moving average price is $24.74. Ultragenyx Pharmaceutical has a twelve month low of $18.29 and a twelve month high of $39.89. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -4.22 and a beta of 0.35.

Insider Activity

In related news, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.05, for a total value of $50,100.00. Following the transaction, the director owned 21,095 shares in the company, valued at $528,429.75. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Karah Herdman Parschauer sold 1,899 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the sale, the executive vice president owned 94,462 shares of the company’s stock, valued at approximately $2,325,654.44. The trade was a 1.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 14,292 shares of company stock valued at $351,644. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Ultragenyx Pharmaceutical by 14.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 232,360 shares of the biopharmaceutical company’s stock valued at $8,414,000 after buying an additional 29,984 shares during the period. Creative Planning acquired a new position in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at $454,000. American Century Companies Inc. bought a new position in Ultragenyx Pharmaceutical during the second quarter worth $366,000. M&T Bank Corp grew its holdings in Ultragenyx Pharmaceutical by 19.7% in the second quarter. M&T Bank Corp now owns 7,232 shares of the biopharmaceutical company’s stock worth $263,000 after purchasing an additional 1,192 shares during the period. Finally, Amundi increased its stake in Ultragenyx Pharmaceutical by 1,560.4% in the second quarter. Amundi now owns 99,161 shares of the biopharmaceutical company’s stock valued at $3,913,000 after purchasing an additional 93,189 shares in the last quarter. Institutional investors own 97.67% of the company’s stock.

Analyst Ratings Changes

RARE has been the topic of several recent research reports. Wedbush cut their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, May 6th. Barclays dropped their price target on shares of Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Wall Street Zen upgraded Ultragenyx Pharmaceutical from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Guggenheim lowered their target price on Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Cantor Fitzgerald lifted their target price on Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.94.

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.