Ultragenyx Pharmaceutical (NASDAQ:RARE) Shares Gap Down on Disappointing Earnings

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE)’s share price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $32.46, but opened at $28.90. Ultragenyx Pharmaceutical shares last traded at $31.1550, with a volume of 401,132 shares.

The biopharmaceutical company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($0.58). The business had revenue of $159.93 million during the quarter, compared to analyst estimates of $167.42 million. Ultragenyx Pharmaceutical had a negative net margin of 87.34% and a negative return on equity of 237.48%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company earned ($1.40) earnings per share. Ultragenyx Pharmaceutical has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Ultragenyx Pharmaceutical in a research report on Monday, October 20th. They set an “overweight” rating and a $65.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Tuesday, September 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ultragenyx Pharmaceutical in a research report on Wednesday, October 8th. Wedbush dropped their price target on Ultragenyx Pharmaceutical from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, July 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $105.00 price target on shares of Ultragenyx Pharmaceutical in a research report on Friday, September 5th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.27.

Insiders Place Their Bets

In related news, CFO Howard Horn sold 7,942 shares of Ultragenyx Pharmaceutical stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $31.51, for a total transaction of $250,252.42. Following the transaction, the chief financial officer directly owned 98,227 shares of the company’s stock, valued at $3,095,132.77. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karah Herdman Parschauer sold 2,450 shares of Ultragenyx Pharmaceutical stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $31.17, for a total value of $76,366.50. Following the transaction, the executive vice president directly owned 73,271 shares in the company, valued at approximately $2,283,857.07. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,456 shares of company stock worth $328,486 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RARE. Norges Bank acquired a new position in Ultragenyx Pharmaceutical during the second quarter worth about $35,765,000. Adage Capital Partners GP L.L.C. grew its holdings in Ultragenyx Pharmaceutical by 81.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 2,149,000 shares of the biopharmaceutical company’s stock worth $77,815,000 after acquiring an additional 965,919 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Ultragenyx Pharmaceutical by 439.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,163,755 shares of the biopharmaceutical company’s stock valued at $42,314,000 after purchasing an additional 947,865 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Ultragenyx Pharmaceutical by 28.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,218,942 shares of the biopharmaceutical company’s stock valued at $116,559,000 after purchasing an additional 706,519 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at $19,106,000. 97.67% of the stock is owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical Trading Down 3.6%

The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -5.62 and a beta of 0.21. The stock has a 50-day moving average of $31.40 and a two-hundred day moving average of $32.91.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Japan, Europe, and internationally. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for treating long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia.