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Ultragenyx (RARE) Up 14.4% Since Last Earnings Report: Can It Continue?

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A month has gone by since the last earnings report for Ultragenyx (RARE - Free Report) . Shares have added about 14.4% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Ultragenyx due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

Ultragenyx Q3 Earnings and Sales Miss Estimates, Increase Y/Y

Ultragenyxreported third-quarter 2025 loss of $1.81 per share, wider than the Zacks Consensus Estimate of a loss of $1.23. The company had incurred a loss of $1.40 per share in the year-ago quarter.

Ultragenyx’s total revenues amounted to $159.9 million in the reported quarter, up 15% year over year, on the back of higher product sales. The top line, however, missed the Zacks Consensus Estimate of $168 million.

RARE’s Q3 Results in Detail

Crysvita’s total revenues were $111.9 million, up 14% year over year, driven by increased demand for approved indications. Crysvita’s net product revenues in the third quarter of 2025 included $57 million from North America, $47 million from Latin America and Turkey, and $8 million from Europe.

Mepsevii product revenues declined 27% year over year to $7 million in the reported quarter. Dojolvi product revenues were $24.3 million, up 14%, driven by new patient demand. Evkeeza recorded sales of $16.7 million in the third quarter, up 57% as Ultragenyx continues to launch the drug in its territories outside of the United States.

Operating expenses of $330.8 million in the quarter grew 22% year over year due to increased investments in multiple late-stage pipeline programs and marketing costs for approved drugs. Operating expenses included research and development expenses of $216.2 million (up 27%), selling, general and administrative expenses of $86.6 million (up 8%), and cost of sales of $28 million (up 33%).

Cash, cash equivalents and marketable debt securities amounted to $447 million as of Sept. 30, 2025, compared with $539 million as of June 30, 2025.

RARE Reaffirms 2025 Financial Guidance

Ultragenyx expects total revenues in 2025 between $640 million and $670 million, representing growth of approximately 14-20% compared to 2024. Crysvita revenues are expected in the range of $460-$480 million (up 12-17% year over year), while Dojolvi revenues are expected between $90 million and $100 million (up 2-14% year over year) in 2025.

The company will maintain its focus on expense management while strategically investing in upcoming commercial launches and advancing multiple phase III programs, which are expected to reduce net cash used in operations in 2025 compared with 2024, reaffirming its path to full-year GAAP profitability in 2027.

How Have Estimates Been Moving Since Then?

It turns out, fresh estimates have trended downward during the past month.

The consensus estimate has shifted -13.23% due to these changes.

VGM Scores

At this time, Ultragenyx has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. Following the exact same course, the stock has a score of F on the value side, putting it in the bottom 20% quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Ultragenyx has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Ultragenyx is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Apellis Pharmaceuticals, Inc. (APLS - Free Report) , a stock from the same industry, has gained 6.5%. The company reported its results for the quarter ended September 2025 more than a month ago.

Apellis Pharmaceuticals reported revenues of $458.58 million in the last reported quarter, representing a year-over-year change of +133%. EPS of $1.67 for the same period compares with -$0.46 a year ago.

Apellis Pharmaceuticals is expected to post a loss of $0.39 per share for the current quarter, representing a year-over-year change of -34.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -6.1%.

Apellis Pharmaceuticals has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.


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