Ultragenyx Pharmaceutical (RARE)
Market Price (12/28/2025): $34.05 | Market Cap: $3.4 BilSector: Health Care | Industry: Biotechnology
Ultragenyx Pharmaceutical (RARE)
Market Price (12/28/2025): $34.05Market Cap: $3.4 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% | Weak multi-year price returns2Y Excs Rtn is -71%, 3Y Excs Rtn is -103% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -544 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -86% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more. | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 25% | |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -71%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -74% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -21% | ||
| Key risksRARE key risks include [1] an over-reliance on its single commercial product, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -71%, 3Y Excs Rtn is -103% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -544 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -86% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 25% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -71%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -74% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -21% |
| Key risksRARE key risks include [1] an over-reliance on its single commercial product, Show more. |
Why The Stock Moved
Qualitative Assessment
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Here are the key points explaining the stock movement for Ultragenyx Pharmaceutical (RARE) from August 31, 2025, to December 28, 2025:
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<b>1. FDA Complete Response Letter for UX111 Gene Therapy:</b> Ultragenyx Pharmaceutical received a Complete Response Letter (CRL) from the FDA on July 11, 2025, regarding its Biologics License Application (BLA) for UX111 AAV gene therapy to treat Sanfilippo syndrome type A (MPS IIIA). The CRL cited manufacturing-related issues and observations from production facility inspections, which was a significant setback for a potential gene therapy launch.
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<b>2. Positive Second Quarter 2025 Financial Results and Reaffirmed 2025 Revenue Guidance:</b> On August 5, 2025, Ultragenyx reported a 13% increase in total revenue for the second quarter of 2025 compared to the same period in 2024. The company also reaffirmed its full-year 2025 revenue guidance, projecting total revenue between $640 million and $670 million, representing 14% to 20% growth over 2024, contributing to investor confidence.
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<b>3. Breakthrough Therapy Designation for GTX-102 and Advancement in Phase 3 Study:</b> Ultragenyx announced on June 27, 2025, that its investigational antisense oligonucleotide, GTX-102, for Angelman syndrome, received Breakthrough Therapy Designation from the U.S. FDA. Further positive news followed on October 30, 2025, with the announcement of the first patient being dosed in the Aurora study evaluating GTX-102, showcasing continued progress in a key pipeline asset.
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<b>4. Initiation of Rolling Biologics License Application (BLA) for DTX401:</b> On August 18, 2025, Ultragenyx initiated a rolling BLA submission to the U.S. FDA for DTX401 AAV gene therapy for the treatment of Glycogen Storage Disease Type Ia (GSDIa). This move signals advancement toward potential regulatory approval for another of the company's gene therapy candidates.
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<b>5. Third Quarter 2025 Earnings Miss:</b> Ultragenyx Pharmaceutical released its Q3 2025 earnings on November 4, 2025, reporting an Earnings Per Share (EPS) of -$1.81, which missed the consensus estimate of -$1.23. Quarterly revenue also fell short of analyst estimates, coming in at $159.93 million against an expected $167.42 million, likely contributing to negative market sentiment.
Show moreStock Movement Drivers
Fundamental Drivers
The 17.6% change in RARE stock from 9/27/2025 to 12/27/2025 was primarily driven by a 15.3% change in the company's P/S Multiple.| 9272025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 29.08 | 34.19 | 17.57% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 610.16 | 630.60 | 3.35% |
| P/S Multiple | 4.69 | 5.41 | 15.28% |
| Shares Outstanding (Mil) | 98.46 | 99.77 | -1.33% |
| Cumulative Contribution | 17.55% |
Market Drivers
9/27/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| RARE | 17.6% | |
| Market (SPY) | 4.3% | 38.9% |
| Sector (XLV) | 15.2% | 32.7% |
Fundamental Drivers
The -6.4% change in RARE stock from 6/28/2025 to 12/27/2025 was primarily driven by a -9.1% change in the company's P/S Multiple.| 6282025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 36.52 | 34.19 | -6.38% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 590.69 | 630.60 | 6.76% |
| P/S Multiple | 5.95 | 5.41 | -9.13% |
| Shares Outstanding (Mil) | 96.29 | 99.77 | -3.62% |
| Cumulative Contribution | -6.50% |
Market Drivers
6/28/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| RARE | -6.4% | |
| Market (SPY) | 12.6% | 19.8% |
| Sector (XLV) | 17.0% | 23.6% |
Fundamental Drivers
The -21.3% change in RARE stock from 12/27/2024 to 12/27/2025 was primarily driven by a -31.8% change in the company's P/S Multiple.| 12272024 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 43.42 | 34.19 | -21.26% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 522.75 | 630.60 | 20.63% |
| P/S Multiple | 7.93 | 5.41 | -31.80% |
| Shares Outstanding (Mil) | 95.49 | 99.77 | -4.48% |
| Cumulative Contribution | -21.42% |
Market Drivers
12/27/2024 to 12/27/2025| Return | Correlation | |
|---|---|---|
| RARE | -21.3% | |
| Market (SPY) | 17.0% | 35.3% |
| Sector (XLV) | 13.8% | 37.0% |
Fundamental Drivers
The -21.4% change in RARE stock from 12/28/2022 to 12/27/2025 was primarily driven by a -42.4% change in the company's Shares Outstanding (Mil).| 12282022 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 43.52 | 34.19 | -21.44% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 343.37 | 630.60 | 83.65% |
| P/S Multiple | 8.88 | 5.41 | -39.08% |
| Shares Outstanding (Mil) | 70.05 | 99.77 | -42.42% |
| Cumulative Contribution | -35.58% |
Market Drivers
12/28/2023 to 12/27/2025| Return | Correlation | |
|---|---|---|
| RARE | -29.2% | |
| Market (SPY) | 48.0% | 33.1% |
| Sector (XLV) | 17.9% | 36.3% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RARE Return | 224% | -39% | -45% | 3% | -12% | -18% | -19% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| RARE Win Rate | 75% | 33% | 25% | 33% | 33% | 58% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| RARE Max Drawdown | -21% | -47% | -60% | -32% | -22% | -37% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See RARE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | RARE | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -81.1% | -25.4% |
| % Gain to Breakeven | 428.6% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -46.3% | -33.9% |
| % Gain to Breakeven | 86.1% | 51.3% |
| Time to Breakeven | 35 days | 148 days |
| 2018 Correction | ||
| % Loss | -60.0% | -19.8% |
| % Gain to Breakeven | 149.9% | 24.7% |
| Time to Breakeven | 327 days | 120 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Ultragenyx Pharmaceutical's stock fell -81.1% during the 2022 Inflation Shock from a high on 2/9/2021. A -81.1% loss requires a 428.6% gain to breakeven.
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AI Analysis | Feedback
Here are 1-2 brief analogies for Ultragenyx Pharmaceutical:
Alexion Pharmaceuticals for genetic rare diseases. (Alexion was historically known as a pioneer in rare disease therapies, making it a strong comparison for Ultragenyx's focus on genetic rare conditions.)
Biogen, but exclusively for rare genetic conditions. (Biogen has a significant focus on neurological and some rare diseases, making it a good point of reference for Ultragenyx's specialized, genetic-focused approach.)
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- Crysvita (burosumab): A medication approved for the treatment of X-linked hypophosphatemia (XLH) and tumor-induced osteomalacia (TIO).
- Dojolvi (triheptanoin): An oral synthetic odd-chain triglyceride used to treat long-chain fatty acid oxidation disorders (LC-FAOD).
- Mepsevii (vestronidase alfa): An enzyme replacement therapy indicated for the treatment of mucopolysaccharidosis VII (MPS VII), also known as Sly syndrome.
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Ultragenyx Pharmaceutical (RARE) sells primarily to other companies, specifically a limited number of specialty distributors and wholesale customers. According to their 2023 annual report (10-K), revenue generated from their three largest customers accounted for approximately 92% of their total gross product sales.
The major customers for Ultragenyx Pharmaceutical are:
- Cencora, Inc. (NYSE: COR)
- Cardinal Health, Inc. (NYSE: CAH)
- McKesson Corporation (NYSE: MCK)
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- Catalent (CTLT)
- Lonza Group AG (LZAGY)
- AGC Biologics
- WuXi Biologics (2269.HK)
- Thermo Fisher Scientific (TMO)
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Emil D. Kakkis, M.D., Ph.D. Founder, President and Chief Executive Officer
Dr. Kakkis founded Ultragenyx in 2010. He previously worked at BioMarin, where he was instrumental in the development and approval of three treatments for rare diseases, specifically MPS I, MPS VI, and PKU. His career began at the Harbor-UCLA Medical Center, focusing on enzyme replacement therapy for MPS I. Dr. Kakkis is also the founder of the EveryLife Foundation for Rare Diseases.
Howard Horn Chief Financial Officer and Executive Vice President, Corporate Strategy
Howard Horn serves as the Chief Financial Officer and Executive Vice President of Corporate Strategy for Ultragenyx Pharmaceutical. Further specific background details regarding founding or managing other companies, company sales, or patterns of managing private equity-backed companies were not readily available in the provided search results.
Eric Crombez, M.D. Chief Medical Officer and Executive Vice President
Dr. Crombez joined Ultragenyx following the acquisition of Dimension Therapeutics in November 2017. At Dimension Therapeutics, he served as Chief Medical Officer and spearheaded clinical development efforts for various gene therapy programs. Prior to that, he held a role at Shire within its Human Genetics Therapy business unit. Dr. Crombez is a board-certified clinical geneticist.
Dennis Huang Chief Technical Operations Officer and Executive Vice President, Gene Therapy Research and Development
Dennis Huang joined Ultragenyx in May 2015. Before his tenure at Ultragenyx, he was the Senior Vice President of Manufacturing and Supply Chain for InterMune Inc. He also served as the Vice President of Biologics Manufacturing and Development for Allergan, Inc. Earlier in his career, Mr. Huang held positions at Novartis AG (formerly Chiron, Inc.), Genentech, Inc., and Synergen (now Amgen), working in manufacturing, quality, and process development roles.
Camille L. Bedrosian, M.D. Strategic Development Advisor
Dr. Bedrosian served as Executive Vice President and Chief Medical Officer at Ultragenyx from January 2018, transitioning to Strategic Development Advisor in May 2023. Before joining Ultragenyx, she was Senior Vice President and Chief Medical Officer at Alexion Pharmaceuticals, Inc. for nearly a decade. She also held the position of Chief Medical Officer at ARIAD Pharmaceuticals, Inc., where she led drug development and built the clinical organization. Her earlier career included roles at Genetics Institute, LLC (acquired by Wyeth, now part of Pfizer).
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The key risks to Ultragenyx Pharmaceutical (RARE) include:
- Clinical Drug Development and Regulatory Approval Challenges: The biopharmaceutical industry is characterized by a lengthy, complex, and expensive clinical drug development process with uncertain outcomes. Ultragenyx faces significant risks of delays or failures in its clinical studies, which could negatively impact its ability to generate revenue and achieve regulatory approval for its product candidates. The regulatory approval processes by authorities like the FDA are also lengthy and unpredictable, meaning that even with positive clinical results, the company may encounter substantial delays or denials in obtaining necessary approvals. A recent example of this risk is the setback with setrusumab missing its first interim analysis targets.
- Reliance on a Limited Product Portfolio and Persistent Unprofitability: Ultragenyx demonstrates an over-reliance on a single product, Crysvita, despite its strong commercial performance, which currently fuels its pipeline. The company has persistently accumulated losses and exhibits ongoing cash burn, indicating a challenge in achieving profitability. While Ultragenyx is focused on expanding its pipeline, the need to transition potential pipeline assets into diversified revenue streams is crucial to secure its long-term financial stability and market leadership.
- Intense Competition and Market Opportunity Limitations: Ultragenyx operates in a highly competitive environment, which could hinder its ability to successfully commercialize its products. The market opportunities for its current and pipeline products, even in rare diseases, may be smaller than initially anticipated. The rare disease space is becoming increasingly attractive to larger pharmaceutical companies, which could intensify competition and potentially impact Ultragenyx's market position and revenue generation.
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The addressable markets for Ultragenyx Pharmaceutical's main products are as follows:
- Crysvita (burosumab) for X-linked hypophosphatemia (XLH): The global market for XLH is projected to reach $2.1 billion worldwide by 2030. The global burosumab market was valued at USD 1.5 billion in 2023 and is estimated to reach USD 3.1 billion by 2031, growing at a CAGR of 10.5% from 2024 to 2031. This market encompasses North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa, with North America and Europe currently dominating. The X-linked hypophosphatemia market is estimated to be valued at USD 1.64 billion in 2025 and is expected to reach USD 3.12 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.6% from 2025 to 2032.
- Dojolvi (triheptanoin) for long-chain fatty acid oxidation disorders (LC-FAOD): The market size for LC-FAOD is estimated at approximately $533.7 million. The genetic condition affects between 2,000 and 3,500 children and adults in the U.S. and as many as 14,000 patients in the developed world.
- Mepsevii (vestronidase alfa) for Mucopolysaccharidosis VII (MPS VII), also known as Sly syndrome: The market for MPS VII is projected to reach $934.7 million by 2034. The 7 major Sly Syndrome market (United States, Germany, France, the United Kingdom, Italy, Spain, and Japan) reached a value of USD 690.7 million in 2024 and is expected to reach USD 969.2 million by 2035. Sly syndrome affects about 150 people worldwide.
- Evkeeza (evinacumab) for homozygous familial hypercholesterolemia (HoFH): The market size for this condition is estimated at $76.4 million. HoFH is a rare condition with a prevalence of approximately 1 in 160,000 to 1 in 300,000 individuals. Ultragenyx holds the non-U.S. commercial rights to Evkeeza.
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```htmlExpected Drivers of Future Revenue Growth for Ultragenyx Pharmaceutical (RARE)
- Continued Growth of Key Commercial Products: Ultragenyx anticipates sustained revenue growth from its established commercial products, primarily Crysvita and Dojolvi. Crysvita has demonstrated strong performance, particularly in international markets such as Latin America and Turkey, and is projected to account for a significant portion of the company's 2025 revenues. Dojolvi is also expected to contribute to this growth as its label broadens and market penetration continues.
- Launch of New Gene Therapies: The potential approval and subsequent launch of novel gene therapies represent a substantial driver of future revenue. Specifically, UX111 for Sanfilippo syndrome type A (MPS IIIA) has a PDUFA decision date of August 18, 2025, with a potential launch in late 2025. Additionally, DTX401 for Glycogen Storage Disease Type Ia (GSDIa) is expected to have its Biologics License Application (BLA) submitted in mid-2025, with a potential launch in 2026.
- Geographic Expansion of Evkeeza: The demand for Evkeeza is continuing to build as Ultragenyx expands its presence and launches the product in territories outside of the United States, including Europe and Japan. This ongoing international expansion is expected to contribute to its revenue growth.
- Advancement of Late-Stage Pipeline Assets: The progression and potential future approvals of other late-stage clinical programs are significant long-term revenue drivers. UX143 (setrusumab) for Osteogenesis Imperfecta (OI) is expected to have final Phase 3 data analyses by year-end 2025. Furthermore, GTX-102 for Angelman Syndrome (AS) is anticipated to complete Phase 3 enrollment in the second half of 2025, with data expected in the second half of 2026. Successful outcomes and subsequent commercialization of these therapies could significantly enhance Ultragenyx's revenue streams.
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Share Issuance
- Ultragenyx Pharmaceutical's number of shares outstanding increased from 64.66 million at the end of 2020 to 98.46 million as of November 2025.
- The company issued common stock in connection with an underwritten public offering and an at-the-market offering in 2020, as well as for employee stock-based compensation.
Inbound Investments
- In November 2025, Ultragenyx received $400 million from OMERS through the sale of an additional 25% of its royalty interest on future sales of Crysvita in the United States and Canada.
- In March 2020, Ultragenyx formed a strategic partnership with Daiichi Sankyo, which included an upfront payment of $125.0 million and the purchase of $75.0 million of Ultragenyx common stock by Daiichi Sankyo.
Outbound Investments
- In July 2022, Ultragenyx acquired GeneTx Biotherapeutics for an upfront cash payment of $75 million, with potential milestone-dependent payments of an additional $115 million.
Capital Expenditures
- Capital expenditures for Ultragenyx were reported as $73.09 million in 2021, $46.77 million in 2022, and $19.99 million in 2023.
- The company has been investing in research and development, and prelaunch inventory manufacturing, which are reflected in operating expenses.
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Peer Comparisons for Ultragenyx Pharmaceutical
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 56.17 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.4% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 9.4% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Mgn LTM | 12.1% |
| Op Mgn 3Y Avg | 11.9% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 14.6% |
| CFO/Rev 3Y Avg | 17.1% |
| FCF/Rev LTM | 11.6% |
| FCF/Rev 3Y Avg | 12.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 158.8 |
| P/S | 4.9 |
| P/EBIT | 21.2 |
| P/E | 33.0 |
| P/CFO | 16.2 |
| Total Yield | 3.9% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 5.7% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.9% |
| 3M Rtn | 7.5% |
| 6M Rtn | 10.9% |
| 12M Rtn | 11.8% |
| 3Y Rtn | 76.2% |
| 1M Excs Rtn | -1.3% |
| 3M Excs Rtn | 3.2% |
| 6M Excs Rtn | -1.3% |
| 12M Excs Rtn | -4.6% |
| 3Y Excs Rtn | -6.2% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Research, development and commercialization of its products | 434 | ||||
| Crysvita | 43 | 21 | 10 | 4 | |
| Crysvita collaboration revenue in profit-share territory | 215 | 171 | 129 | 75 | |
| Crysvita royalty revenue | 22 | 18 | 13 | ||
| Crysvita royalty revenue in European territory | 0 | 0 | 1 | 8 | |
| Daiichi Sankyo | 8 | 85 | 89 | ||
| Dojolvi | 56 | 40 | 13 | 3 | |
| Evkeeza | 0 | ||||
| Mepsevii | 21 | 16 | 15 | 13 | |
| Bayer | 1 | ||||
| Total | 434 | 363 | 351 | 271 | 104 |
Price Behavior
| Market Price | $34.19 | |
| Market Cap ($ Bil) | 3.4 | |
| First Trading Date | 01/31/2014 | |
| Distance from 52W High | -25.3% | |
| 50 Days | 200 Days | |
| DMA Price | $33.92 | $33.49 |
| DMA Trend | down | up |
| Distance from DMA | 0.8% | 2.1% |
| 3M | 1YR | |
| Volatility | 45.5% | 52.1% |
| Downside Capture | 146.92 | 136.25 |
| Upside Capture | 195.68 | 91.22 |
| Correlation (SPY) | 39.8% | 35.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.59 | 1.28 | 1.09 | 0.98 | 0.93 | 1.00 |
| Up Beta | 2.37 | 2.58 | 2.48 | 2.03 | 0.92 | 0.99 |
| Down Beta | 1.93 | 0.74 | 0.48 | 0.20 | 0.74 | 0.83 |
| Up Capture | 117% | 166% | 127% | 70% | 71% | 87% |
| Bmk +ve Days | 13 | 26 | 39 | 74 | 142 | 427 |
| Stock +ve Days | 9 | 20 | 28 | 64 | 120 | 371 |
| Down Capture | 139% | 80% | 76% | 108% | 116% | 104% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 11 | 22 | 35 | 60 | 127 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of RARE With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| RARE | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -22.7% | 15.1% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 51.7% | 17.2% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | -0.31 | 0.65 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 36.9% | 35.2% | 10.4% | 13.4% | 26.2% | 12.8% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of RARE With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| RARE | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -27.0% | 8.4% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 50.6% | 14.5% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | -0.43 | 0.40 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 34.3% | 36.4% | 9.8% | 6.5% | 34.4% | 18.2% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of RARE With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| RARE | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -11.1% | 9.9% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 54.8% | 16.6% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.01 | 0.49 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 44.7% | 41.7% | 3.4% | 12.2% | 30.5% | 12.6% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2025 | -1.8% | 2.4% | 12.1% |
| 8/5/2025 | -3.0% | -2.8% | 8.2% |
| 5/6/2025 | -4.7% | 1.0% | 5.3% |
| 2/13/2025 | -2.4% | -2.1% | -8.9% |
| 11/5/2024 | -3.2% | -8.3% | -9.3% |
| 8/1/2024 | 14.3% | 13.9% | 28.6% |
| 5/2/2024 | -1.0% | -4.6% | -4.8% |
| 1/8/2024 | 4.6% | -4.0% | -3.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 11 |
| # Negative | 13 | 15 | 13 |
| Median Positive | 3.6% | 6.5% | 11.4% |
| Median Negative | -3.2% | -4.6% | -8.5% |
| Max Positive | 14.3% | 13.9% | 28.6% |
| Max Negative | -13.4% | -24.1% | -46.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11052025 | 10-Q 9/30/2025 |
| 6302025 | 8062025 | 10-Q 6/30/2025 |
| 3312025 | 5072025 | 10-Q 3/31/2025 |
| 12312024 | 2192025 | 10-K 12/31/2024 |
| 9302024 | 11062024 | 10-Q 9/30/2024 |
| 6302024 | 8022024 | 10-Q 6/30/2024 |
| 3312024 | 5032024 | 10-Q 3/31/2024 |
| 12312023 | 2212024 | 10-K 12/31/2023 |
| 9302023 | 11032023 | 10-Q 9/30/2023 |
| 6302023 | 8042023 | 10-Q 6/30/2023 |
| 3312023 | 5052023 | 10-Q 3/31/2023 |
| 12312022 | 2172023 | 10-K 12/31/2022 |
| 9302022 | 11032022 | 10-Q 9/30/2022 |
| 6302022 | 7292022 | 10-Q 6/30/2022 |
| 3312022 | 5062022 | 10-Q 3/31/2022 |
| 12312021 | 2152022 | 10-K 12/31/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | Horn Howard | Chief Financial Officer | 10142025 | Sell | 31.51 | 7,942 | 250,252 | 3,095,133 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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