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

Ultragenyx Pharmaceutical (NASDAQ:RARE) issued its earnings results on Tuesday. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.06), FiscalAI reports. The company had revenue of $173.00 million during the quarter, compared to the consensus estimate of $182.49 million.

Ultragenyx Pharmaceutical Trading Up 2.0%

Shares of NASDAQ:RARE traded up $0.33 during mid-day trading on Tuesday, reaching $16.63. The stock had a trading volume of 3,668,218 shares, compared to its average volume of 2,851,628. The company has a market cap of $1.64 billion, a P/E ratio of -2.85 and a beta of 0.35. Ultragenyx Pharmaceutical has a 1 year low of $12.73 and a 1 year high of $39.89. The business’s 50 day moving average price is $16.82 and its 200 day moving average price is $22.85.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,066 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $15.27, for a total transaction of $107,897.82. Following the completion of the transaction, the chief financial officer owned 89,229 shares in the company, valued at $1,362,526.83. This trade represents a 7.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 8,510 shares of company stock worth $127,561 over the last three months. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RARE has been the subject of several recent analyst reports. Evercore downgraded Ultragenyx Pharmaceutical from an “outperform” rating to an “in-line” rating and set a $16.00 price target for the company. in a research note on Thursday, September 3rd. The Goldman Sachs Group reduced their price objective on shares of Ultragenyx Pharmaceutical from $28.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, September 4th. Canaccord Genuity Group boosted their target price on shares of Ultragenyx Pharmaceutical from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Guggenheim lowered their target price on shares of Ultragenyx Pharmaceutical from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, HC Wainwright dropped their target price on shares of Ultragenyx Pharmaceutical from $50.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.65.

About Ultragenyx Pharmaceutical

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.