Ultragenyx Pharmaceutical (NASDAQ:RARE) Releases Quarterly Earnings Results, Beats Expectations By $0.32 EPS

Ultragenyx Pharmaceutical (NASDAQ:RARE) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.32, Zacks reports. Ultragenyx Pharmaceutical had a negative return on equity of 1,024.42% and a negative net margin of 91.03%.The firm’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.17) EPS.

Here are the key takeaways from Ultragenyx Pharmaceutical’s conference call:

• Record quarterly revenue reached $214 million, up from contributions across Crysvita ($156 million), DOJOLVI ($27 million), Evkeeza ($21 million, up 50% year over year), and MEPSEVII ($10 million). Management reaffirmed full-year revenue and operating-expense guidance.
• Ultragenyx is preparing for potential FDA decisions on its first two gene therapies: DTX-401 for GSDIa on August 23 and UX-111 for Sanfilippo syndrome type A on September 19. The company said payer engagement, Qualified Treatment Center contracting, and launch preparations are progressing as planned.
• The Phase III ASPIRE trial of GTX-102 for Angelman syndrome remains on track for top-line results in September or October. Management said either the Bayley-4 cognition endpoint or the clinically meaningful Multi-Domain Responder Index could independently establish statistical success, although the results remain uncertain.
• Management reiterated a path to profitability in 2027, supported by double-digit growth from existing products, potential gene-therapy launches, expense discipline, and possible non-dilutive proceeds from monetizing priority review vouchers. The company ended the quarter with $436 million in cash and marketable securities.
• Setrusumab’s regulatory path remains uncertain after Phase III studies failed to meet their primary fracture-reduction endpoints. The FDA is considering alternative fracture analyses, but additional clinical data may be required, and the U.K. regulator indicated that a new randomized study could be necessary.

Ultragenyx Pharmaceutical Price Performance

Shares of Ultragenyx Pharmaceutical stock traded up $0.79 on Tuesday, reaching $25.81. 2,103,532 shares of the company’s stock were exchanged, compared to its average volume of 1,911,813. Ultragenyx Pharmaceutical has a 52 week low of $18.29 and a 52 week high of $39.89. The firm’s 50-day moving average is $27.77 and its two-hundred day moving average is $24.76.

Insider Activity at Ultragenyx Pharmaceutical

In related news, EVP Karah Herdman Parschauer sold 1,899 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $24.62, for a total value of $46,753.38. Following the completion of the sale, the executive vice president directly owned 94,462 shares of the company’s stock, valued at $2,325,654.44. The trade was a 1.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Corazon (Corsee) D. Sanders sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.05, for a total transaction of $50,100.00. Following the completion of the transaction, the director directly owned 21,095 shares in the company, valued at approximately $528,429.75. The trade was a 8.66% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 14,292 shares of company stock valued at $351,644. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ultragenyx Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. raised its holdings in Ultragenyx Pharmaceutical by 614.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,167,729 shares of the biopharmaceutical company’s stock worth $65,205,000 after purchasing an additional 1,864,164 shares in the last quarter. Millennium Management LLC increased its position in shares of Ultragenyx Pharmaceutical by 787.6% during the fourth quarter. Millennium Management LLC now owns 880,644 shares of the biopharmaceutical company’s stock valued at $20,255,000 after buying an additional 781,431 shares during the period. Vestal Point Capital LP purchased a new position in shares of Ultragenyx Pharmaceutical during the third quarter valued at about $22,560,000. AQR Capital Management LLC raised its stake in Ultragenyx Pharmaceutical by 82.3% in the fourth quarter. AQR Capital Management LLC now owns 1,360,497 shares of the biopharmaceutical company’s stock worth $31,291,000 after buying an additional 614,315 shares in the last quarter. Finally, State Street Corp raised its stake in Ultragenyx Pharmaceutical by 16.5% in the fourth quarter. State Street Corp now owns 4,303,046 shares of the biopharmaceutical company’s stock worth $98,970,000 after buying an additional 610,559 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RARE shares. Morgan Stanley boosted their price objective on Ultragenyx Pharmaceutical from $50.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Barclays dropped their target price on Ultragenyx Pharmaceutical from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Ultragenyx Pharmaceutical from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Wedbush lowered their price objective on Ultragenyx Pharmaceutical from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald raised their price objective on shares of Ultragenyx Pharmaceutical from $84.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Ultragenyx Pharmaceutical has an average rating of “Moderate Buy” and an average price target of $57.94.

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare and ultra-rare genetic disorders. Since its founding in 2010 and headquarters in Novato, California, the company has built expertise in protein replacement therapies, small molecules and gene therapy approaches to address high-unmet medical needs. Ultragenyx applies a precision medicine model, leveraging both in-house research and strategic collaborations to advance its product pipeline from discovery through regulatory approval.

The company’s commercial portfolio includes Crysvita (burosumab-tmyl) for X-linked hypophosphatemia, Mepsevii (vestronidase alfa-vjbk) for mucopolysaccharidosis VII and Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders.