Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) – Investment analysts at Piper Jaffray Companies dropped their FY2018 earnings per share (EPS) estimates for shares of Ultragenyx Pharmaceutical in a research note issued to investors on Monday, November 5th. Piper Jaffray Companies analyst C. Raymond now expects that the biopharmaceutical company will post earnings per share of ($4.14) for the year, down from their prior estimate of ($4.02). Piper Jaffray Companies currently has a “Overweight” rating and a $70.00 price target on the stock. Piper Jaffray Companies also issued estimates for Ultragenyx Pharmaceutical’s Q4 2018 earnings at ($1.92) EPS, Q1 2019 earnings at ($1.74) EPS, Q2 2019 earnings at ($1.74) EPS, Q3 2019 earnings at ($1.68) EPS, Q4 2019 earnings at ($1.64) EPS, FY2019 earnings at ($6.80) EPS, FY2020 earnings at ($5.49) EPS, FY2021 earnings at ($3.51) EPS and FY2022 earnings at ($0.01) EPS.
Several other equities analysts also recently weighed in on the company. Citigroup upgraded Ultragenyx Pharmaceutical from a “sell” rating to a “neutral” rating and increased their target price for the stock from $46.00 to $54.00 in a research report on Thursday. They noted that the move was a valuation call. Canaccord Genuity reduced their target price on Ultragenyx Pharmaceutical from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James raised their price objective on Ultragenyx Pharmaceutical from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday. ValuEngine downgraded Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Finally, Wedbush cut their price objective on Ultragenyx Pharmaceutical from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Ultragenyx Pharmaceutical currently has a consensus rating of “Buy” and a consensus price target of $75.95.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.74) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.94) by $0.20. Ultragenyx Pharmaceutical had a negative return on equity of 41.08% and a negative net margin of 508.70%. The firm had revenue of $11.80 million for the quarter, compared to the consensus estimate of $11.97 million. During the same period in the prior year, the business posted ($1.87) earnings per share. The firm’s revenue for the quarter was up 5800.0% compared to the same quarter last year.
In related news, EVP Karah Herdman Parschauer sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $78.53, for a total transaction of $392,650.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William Aliski sold 6,000 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $55.67, for a total value of $334,020.00. Following the sale, the director now owns 72,610 shares in the company, valued at $4,042,198.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,250 shares of company stock worth $2,747,319. Company insiders own 8.40% of the company’s stock.
Several large investors have recently made changes to their positions in RARE. Voya Investment Management LLC raised its holdings in shares of Ultragenyx Pharmaceutical by 2,221.4% during the 2nd quarter. Voya Investment Management LLC now owns 426,788 shares of the biopharmaceutical company’s stock valued at $32,807,000 after buying an additional 408,403 shares during the period. First Trust Advisors LP raised its holdings in shares of Ultragenyx Pharmaceutical by 29.3% during the 3rd quarter. First Trust Advisors LP now owns 1,263,466 shares of the biopharmaceutical company’s stock valued at $96,453,000 after buying an additional 285,961 shares during the period. Federated Investors Inc. PA raised its holdings in shares of Ultragenyx Pharmaceutical by 18.2% during the 2nd quarter. Federated Investors Inc. PA now owns 1,417,551 shares of the biopharmaceutical company’s stock valued at $108,967,000 after buying an additional 218,060 shares during the period. BlackRock Inc. raised its holdings in shares of Ultragenyx Pharmaceutical by 3.8% during the 2nd quarter. BlackRock Inc. now owns 4,389,350 shares of the biopharmaceutical company’s stock valued at $337,408,000 after buying an additional 158,723 shares during the period. Finally, Sector Gamma AS purchased a new stake in shares of Ultragenyx Pharmaceutical during the 2nd quarter valued at about $5,228,000. Institutional investors and hedge funds own 96.78% of the company’s stock.
About Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.
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