Ultragenyx Pharmaceutical Inc (RARE) Forecasted to Post Q3 2018 Earnings of ($1.82) Per Share
Ultragenyx Pharmaceutical Inc (NASDAQ:RARE) – SunTrust Banks raised their Q3 2018 earnings per share (EPS) estimates for Ultragenyx Pharmaceutical in a note issued to investors on Thursday, October 18th. SunTrust Banks analyst E. Nash now forecasts that the biopharmaceutical company will post earnings per share of ($1.82) for the quarter, up from their prior forecast of ($2.00). SunTrust Banks has a “Positive” rating and a $83.00 price objective on the stock. SunTrust Banks also issued estimates for Ultragenyx Pharmaceutical’s Q4 2018 earnings at ($1.57) EPS, FY2018 earnings at ($3.93) EPS, FY2020 earnings at ($4.71) EPS, FY2021 earnings at $0.45 EPS and FY2022 earnings at $3.77 EPS.
Several other brokerages have also recently weighed in on RARE. Leerink Swann boosted their price objective on Ultragenyx Pharmaceutical from $68.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, July 17th. Morgan Stanley reissued an “equal weight” rating and set a $92.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Monday, September 10th. JMP Securities reissued a “buy” rating and set a $94.00 price objective on shares of Ultragenyx Pharmaceutical in a report on Sunday, September 2nd. BidaskClub raised Ultragenyx Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 1st. Finally, Bank of America boosted their price objective on Ultragenyx Pharmaceutical from $72.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $85.53.
Ultragenyx Pharmaceutical (NASDAQ:RARE) last announced its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.08) by $1.02. The firm had revenue of $12.79 million during the quarter, compared to analysts’ expectations of $5.63 million. Ultragenyx Pharmaceutical had a negative return on equity of 44.09% and a negative net margin of 703.27%. During the same period in the previous year, the business posted ($1.72) EPS.
A number of large investors have recently added to or reduced their stakes in RARE. Advisors Asset Management Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $181,000. Xact Kapitalforvaltning AB boosted its holdings in shares of Ultragenyx Pharmaceutical by 49.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 6,623 shares of the biopharmaceutical company’s stock valued at $338,000 after buying an additional 2,200 shares during the last quarter. JBF Capital Inc. acquired a new stake in shares of Ultragenyx Pharmaceutical in the 2nd quarter valued at approximately $384,000. Strs Ohio raised its stake in Ultragenyx Pharmaceutical by 358.3% in the 2nd quarter. Strs Ohio now owns 5,500 shares of the biopharmaceutical company’s stock valued at $422,000 after acquiring an additional 4,300 shares during the period. Finally, Pier 88 Investment Partners LLC bought a new stake in Ultragenyx Pharmaceutical in the 2nd quarter valued at $446,000. 96.11% of the stock is owned by hedge funds and other institutional investors.
In related news, Director William Aliski sold 19,550 shares of the business’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $72.49, for a total value of $1,417,179.50. Following the completion of the transaction, the director now directly owns 72,610 shares in the company, valued at approximately $5,263,498.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karah Herdman Parschauer sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $78.53, for a total value of $392,650.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,000 shares of company stock valued at $2,700,774. 8.40% of the stock is currently owned by company insiders.
About Ultragenyx Pharmaceutical
Ultragenyx Pharmaceutical Inc, a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Its biologics product candidate includes Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII.
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