Brokers Offer Predictions for Ultragenyx Pharmaceutical Inc’s Q2 2019 Earnings (RARE)

Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) – Equities research analysts at Wedbush lowered their Q2 2019 earnings per share (EPS) estimates for shares of Ultragenyx Pharmaceutical in a research note issued to investors on Tuesday, May 7th. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will post earnings of ($1.76) per share for the quarter, down from their prior estimate of ($1.65). Wedbush has a “Outperform” rating and a $77.00 price objective on the stock. Wedbush also issued estimates for Ultragenyx Pharmaceutical’s Q3 2019 earnings at ($1.75) EPS, Q4 2019 earnings at ($1.73) EPS, FY2019 earnings at ($7.07) EPS, FY2020 earnings at ($5.93) EPS, FY2021 earnings at ($4.43) EPS, FY2022 earnings at ($2.50) EPS and FY2023 earnings at $3.76 EPS.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.73) by ($0.09). The firm had revenue of $18.17 million for the quarter, compared to analyst estimates of $18.75 million. Ultragenyx Pharmaceutical had a negative return on equity of 35.26% and a negative net margin of 383.75%. The firm’s quarterly revenue was up 70.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share.

Several other research firms have also recently weighed in on RARE. Morgan Stanley raised Ultragenyx Pharmaceutical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $68.00 to $83.00 in a research report on Wednesday, March 27th. BidaskClub raised Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research raised Ultragenyx Pharmaceutical from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, April 23rd. ValuEngine raised Ultragenyx Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Finally, Barclays reaffirmed a “buy” rating on shares of Ultragenyx Pharmaceutical in a research report on Thursday. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $77.78.

RARE stock opened at $62.45 on Friday. The stock has a market cap of $3.58 billion, a PE ratio of -8.45 and a beta of 2.14. Ultragenyx Pharmaceutical has a fifty-two week low of $37.44 and a fifty-two week high of $90.98.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Ultragenyx Pharmaceutical by 6.0% in the first quarter. BlackRock Inc. now owns 4,745,363 shares of the biopharmaceutical company’s stock valued at $329,138,000 after buying an additional 268,551 shares during the period. California State Teachers Retirement System raised its stake in Ultragenyx Pharmaceutical by 7.6% in the first quarter. California State Teachers Retirement System now owns 80,494 shares of the biopharmaceutical company’s stock valued at $5,583,000 after buying an additional 5,711 shares during the period. Parametric Portfolio Associates LLC raised its stake in Ultragenyx Pharmaceutical by 22.6% in the first quarter. Parametric Portfolio Associates LLC now owns 19,301 shares of the biopharmaceutical company’s stock valued at $1,339,000 after buying an additional 3,557 shares during the period. First Trust Advisors LP raised its stake in Ultragenyx Pharmaceutical by 26.3% in the first quarter. First Trust Advisors LP now owns 1,859,052 shares of the biopharmaceutical company’s stock valued at $128,944,000 after buying an additional 387,118 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. raised its stake in Ultragenyx Pharmaceutical by 93.9% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 55,540 shares of the biopharmaceutical company’s stock valued at $3,852,000 after buying an additional 26,899 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

In related news, EVP Karah Herdman Parschauer sold 468 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $68.30, for a total transaction of $31,964.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Shalini Sharp sold 14,800 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $70.00, for a total value of $1,036,000.00. The disclosure for this sale can be found here. Corporate insiders own 8.40% of the company’s stock.

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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