Piper Jaffray Companies Research Analysts Lower Earnings Estimates for Ultragenyx Pharmaceutical Inc (NASDAQ:RARE)

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Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) – Analysts at Piper Jaffray Companies reduced their FY2019 earnings estimates for Ultragenyx Pharmaceutical in a research note issued to investors on Tuesday, November 5th. Piper Jaffray Companies analyst C. Raymond now expects that the biopharmaceutical company will earn ($7.12) per share for the year, down from their prior estimate of ($6.64). Piper Jaffray Companies currently has a “Buy” rating and a $75.00 target price on the stock. Piper Jaffray Companies also issued estimates for Ultragenyx Pharmaceutical’s Q4 2019 earnings at ($1.46) EPS, FY2020 earnings at ($4.91) EPS, Q1 2021 earnings at ($0.91) EPS, Q2 2021 earnings at ($0.82) EPS, Q3 2021 earnings at ($0.72) EPS and FY2023 earnings at $3.93 EPS.

RARE has been the subject of a number of other research reports. Citigroup reduced their price objective on Ultragenyx Pharmaceutical from $66.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday. Leerink Swann restated a “positive” rating and issued a $85.00 price target (up previously from $80.00) on shares of Ultragenyx Pharmaceutical in a research note on Wednesday, September 4th. Cowen restated a “buy” rating and issued a $62.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Tuesday. Wedbush restated a “buy” rating and issued a $75.00 price target on shares of Ultragenyx Pharmaceutical in a research note on Thursday, August 15th. Finally, ValuEngine lowered Ultragenyx Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Ultragenyx Pharmaceutical has an average rating of “Buy” and a consensus price target of $71.92.

Shares of NASDAQ RARE opened at $37.50 on Friday. The company has a current ratio of 9.32, a quick ratio of 9.14 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.30 billion, a PE ratio of -5.07 and a beta of 2.15. Ultragenyx Pharmaceutical has a 12-month low of $37.05 and a 12-month high of $74.50. The stock’s fifty day simple moving average is $42.14 and its two-hundred day simple moving average is $54.60.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($1.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $25.80 million for the quarter, compared to analysts’ expectations of $28.88 million. During the same quarter last year, the company earned ($1.74) earnings per share. The company’s revenue for the quarter was up 119.4% on a year-over-year basis.

In related news, CEO Emil D. Kakkis acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average price of $43.63 per share, with a total value of $218,150.00. Following the completion of the transaction, the chief executive officer now owns 472,479 shares of the company’s stock, valued at $20,614,258.77. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.80% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. raised its holdings in Ultragenyx Pharmaceutical by 16.9% during the second quarter. First Mercantile Trust Co. now owns 1,151 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 166 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ultragenyx Pharmaceutical by 6.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,325 shares of the biopharmaceutical company’s stock valued at $211,000 after buying an additional 212 shares in the last quarter. United Services Automobile Association increased its holdings in Ultragenyx Pharmaceutical by 0.7% in the second quarter. United Services Automobile Association now owns 31,483 shares of the biopharmaceutical company’s stock valued at $1,999,000 after buying an additional 215 shares in the last quarter. Smith Asset Management Group LP increased its holdings in Ultragenyx Pharmaceutical by 22.6% in the second quarter. Smith Asset Management Group LP now owns 1,680 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 310 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Ultragenyx Pharmaceutical by 0.8% in the third quarter. Russell Investments Group Ltd. now owns 40,005 shares of the biopharmaceutical company’s stock valued at $1,712,000 after buying an additional 332 shares in the last quarter.

About Ultragenyx Pharmaceutical

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.

Read More: What is Compound Annual Growth Rate (CAGR)?

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

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