Ultragenyx Pharmaceutical (NASDAQ:RARE) Posts Earnings Results, Misses Expectations By $0.06 EPS

Ultragenyx Pharmaceutical (NASDAQ:RARE) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.06), FiscalAI reports. The firm had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $182.49 million.

Ultragenyx Pharmaceutical Price Performance

RARE traded up $0.33 during trading on Tuesday, reaching $16.63. 3,673,454 shares of the company’s stock were exchanged, compared to its average volume of 2,851,628. Ultragenyx Pharmaceutical has a 1 year low of $12.73 and a 1 year high of $39.89. The company’s fifty day simple moving average is $16.82 and its 200-day simple moving average is $22.85. The stock has a market capitalization of $1.64 billion, a P/E ratio of -2.85 and a beta of 0.35.

Insider Activity at Ultragenyx Pharmaceutical

In other news, CFO Howard Horn sold 7,066 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $15.27, for a total value of $107,897.82. Following the sale, the chief financial officer owned 89,229 shares in the company, valued at $1,362,526.83. This represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 8,510 shares of company stock valued at $127,561. 5.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RARE shares. Barclays raised their price target on Ultragenyx Pharmaceutical from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. Wells Fargo & Company downgraded shares of Ultragenyx Pharmaceutical from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $50.00 to $18.00 in a research report on Thursday, September 3rd. UBS Group started coverage on shares of Ultragenyx Pharmaceutical in a research note on Thursday, October 15th. They set a “neutral” rating and a $16.00 price target on the stock. Guggenheim decreased their price target on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Canaccord Genuity Group lifted their price objective on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.65.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.