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Erik Harris, Executive Vice President and Chief Commercial Officer at Ultragenyx Pharmaceutical (TADAWUL:2070) Inc. (NASDAQ:RARE), recently reported a series of stock transactions. On March 1, 2025, Harris acquired a total of 35,256 shares of common stock through awards and performance stock unit conversions. These shares were granted as part of the company’s incentive plans and came at no cost to Harris. The transaction occurs as Ultragenyx, a $3.8 billion market cap biotech company, demonstrates strong revenue growth of 29% despite current unprofitability.
On March 3, 2025, Harris sold 15,103 shares of Ultragenyx common stock. The shares were sold at a weighted average price of $42.10, amounting to a total transaction value of approximately $635,836. The sale was executed to cover tax obligations related to the vesting of restricted stock units. According to InvestingPro analysis, the stock currently trades below its Fair Value, with 6 additional exclusive insights available to subscribers.
Following these transactions, Harris holds 87,855 shares of Ultragenyx common stock. Additionally, Harris was awarded stock options for 30,246 shares, which will vest over a four-year period as part of his compensation package. The company maintains a healthy liquidity position with a current ratio of 2.37, indicating strong ability to meet short-term obligations.
In other recent news, Ultragenyx Pharmaceutical Inc. reported fourth-quarter 2024 earnings that exceeded expectations, with total revenue reaching $164.9 million. This figure surpassed estimates from Goldman Sachs and Visible Alpha, which projected $159.7 million and $144.2 million, respectively. Canaccord Genuity responded by raising its price target for Ultragenyx to $136, citing robust sales from key product lines like Crysvita, Dojolvi, and Evkeeza. The company has also reiterated its full-year 2025 revenue guidance, projected between $640 million and $670 million.
In regulatory developments, the U.S. FDA accepted Ultragenyx’s Biologics License Application for UX111, a gene therapy for Sanfilippo syndrome type A, granting it Priority Review with a PDUFA action date set for August 2025. Analysts from Cantor Fitzgerald and Goldman Sachs maintain their optimistic outlooks, with price targets of $118 and $78, respectively, highlighting the potential impact of upcoming clinical readouts and product launches. Cantor Fitzgerald noted the progress in Ultragenyx’s DTX301 program for OTC deficiency and the anticipated clinical readouts for setrusumab in osteogenesis imperfecta.
H.C. Wainwright reaffirmed a Buy rating with a $95 price target, emphasizing the importance of UX111’s FDA review as part of Ultragenyx’s strategy to achieve profitability by 2027. The company’s management expressed readiness for the potential launch of UX111, underlining its commitment to addressing unmet medical needs. These developments reflect Ultragenyx’s ongoing efforts to expand its pipeline and achieve significant milestones in the coming years.
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