Wedbush Equities Analysts Decrease Earnings Estimates for Ultragenyx Pharmaceutical Inc (NASDAQ:RARE)

Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) – Equities researchers at Wedbush lowered their FY2019 earnings per share estimates for shares of Ultragenyx Pharmaceutical in a research report issued on Wednesday, November 6th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings per share of ($7.22) for the year, down from their previous estimate of ($6.76). Wedbush currently has a “Buy” rating and a $75.00 target price on the stock. Wedbush also issued estimates for Ultragenyx Pharmaceutical’s Q4 2019 earnings at ($1.56) EPS, Q1 2020 earnings at ($1.46) EPS, Q2 2020 earnings at ($1.38) EPS, Q3 2020 earnings at ($1.23) EPS, Q4 2020 earnings at ($1.10) EPS, FY2020 earnings at ($5.16) EPS, FY2021 earnings at ($3.20) EPS, FY2022 earnings at ($0.90) EPS and FY2023 earnings at $0.44 EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($1.96) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.71) by ($0.25). Ultragenyx Pharmaceutical had a negative net margin of 470.18% and a negative return on equity of 51.40%. The firm had revenue of $25.80 million for the quarter, compared to analyst estimates of $28.88 million. During the same quarter in the prior year, the firm earned ($1.74) EPS. The firm’s revenue was up 119.4% compared to the same quarter last year.

A number of other research firms have also issued reports on RARE. Piper Jaffray Companies set a $75.00 price target on shares of Ultragenyx Pharmaceutical and gave the company a “buy” rating in a report on Wednesday, September 4th. ValuEngine lowered shares of Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a report on Tuesday, October 29th. Citigroup cut their price target on shares of Ultragenyx Pharmaceutical from $66.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday. Leerink Swann restated a “positive” rating and set a $85.00 price target (up previously from $80.00) on shares of Ultragenyx Pharmaceutical in a report on Wednesday, September 4th. Finally, Cowen restated a “buy” rating and set a $62.00 price target on shares of Ultragenyx Pharmaceutical in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. Ultragenyx Pharmaceutical has an average rating of “Buy” and a consensus price target of $71.92.

RARE stock opened at $38.90 on Friday. Ultragenyx Pharmaceutical has a 52-week low of $36.73 and a 52-week high of $74.50. The company’s 50 day simple moving average is $42.04 and its 200-day simple moving average is $54.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.32 and a quick ratio of 9.14. The firm has a market capitalization of $2.30 billion, a P/E ratio of -5.26 and a beta of 2.15.

In related news, CEO Emil D. Kakkis acquired 5,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were purchased at an average price of $43.63 per share, for a total transaction of $218,150.00. Following the purchase, the chief executive officer now owns 472,479 shares in the company, valued at $20,614,258.77. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Fosun International Ltd increased its stake in Ultragenyx Pharmaceutical by 17.3% in the 2nd quarter. Fosun International Ltd now owns 54,144 shares of the biopharmaceutical company’s stock valued at $3,360,000 after buying an additional 8,000 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $185,000. Atika Capital Management LLC acquired a new position in Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $1,778,000. Parametric Portfolio Associates LLC increased its stake in Ultragenyx Pharmaceutical by 3.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 20,006 shares of the biopharmaceutical company’s stock valued at $1,270,000 after buying an additional 705 shares during the period. Finally, AXA increased its stake in Ultragenyx Pharmaceutical by 1.2% in the 2nd quarter. AXA now owns 296,991 shares of the biopharmaceutical company’s stock valued at $18,859,000 after buying an additional 3,601 shares during the period.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical, Inc is a biopharmaceutical company, which engages in the identification, acquisition, development and commercialization of novel products for the treatment of serious rare and ultra-rare genetic diseases. Its product includes Mepsevii and Crysvita. The company was founded by Emil D.

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Earnings History and Estimates for Ultragenyx Pharmaceutical (NASDAQ:RARE)

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