Ultragenyx Pharmaceutical Inc. (RARE)

Ultragenyx Pharmaceutical Inc., a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases in North America, Latin America, Europe, the Middle East, Africa, and the Asia-Pacific. Its biologic products include Crysvita (burosumab), an antibody targeting fibroblast growth factor 23 for the treatment of X-linked hypophosphatemia, as well as tumor-induced osteomalacia; Mepsevii, an enzyme replacement therapy for the treatment of children and adults with Mucopolysaccharidosis VII; Dojolvi for the treatment of long-chain fatty acid oxidation disorders; and Evkeeza (evinacumab) for the treatment of homozygous familial hypercholesterolemia. The company's products candidates that are in Phase 3 clinical trials include UX143, a human monoclonal antibody for the treatment of osteogenesis imperfecta; UX111, an AAV9 gene therapy product candidate for the treatment of patients with Sanfilippo syndrome type A, or MPS IIIA, a rare lysosomal storage disease; DTX401, an adeno-associated virus 8 (AAV8) gene therapy clinical candidate for the treatment of patients with glycogen storage disease type Ia; DTX301, an AAV8 gene therapy for the treatment of patients with ornithine transcarbamylase; and GTX-102, an antisense oligonucleotide for the treatment of Angelman syndrome. It also develops UX701, an adeno-associated AAV9 gene therapy which is in Phase 2 clinical trial for the treatment of Wilson liver disease. The company has collaboration and license agreement with Kyowa Kirin Co., Ltd.; Saint Louis University; Baylor Research Institute; REGENXBIO Inc.; GeneTx; Mereo; University of Pennsylvania; Regeneron; and Abeona. Ultragenyx Pharmaceutical Inc. was incorporated in 2010 and is headquartered in Novato, California.

Ticker
RARE
Exchange
Nasdaq
Sector
Healthcare
Industry
Biotechnology
Market cap
$1.57B
52-week range
$12.73 - $39.89

Valuation

Share price
$15.43 (close of Nov 6, 2026)
P/E (TTM)
-2.98x
Price to book
-4.18x
Price to free cash flow
-3.56x
Enterprise value
$1.42B
Book value per share
$-3.69

Price performance

PeriodChange
1 day-0.90%
5 days-4.16%
1 month+6.71%
3 months-40.24%
6 months-40.49%
Year to date-32.91%
1 year-50.15%
3 years-59.17%
5 years-81.49%
10 years-72.07%
All time-63.48%

Short interest

As of
Oct 15, 2026
Short % of float
20.42%
Shares short
20.15M
Days to cover
5.18
Change since prior report
-1.01%
Source
FINRA consolidated short interest

Profitability and growth

Return on assets
-37.53%
Return on capital employed
-46.60%
Gross margin
83.80%
Net margin
-85.44%
EBITDA margin
-74.29%
Revenue growth
20.18%

Cash flow and balance sheet

Free cash flow yield (TTM)
-28.11%
Current ratio
1.40x
Net debt to EBITDA
0.36x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$673.00M
Cost of revenue
$109.00M
Gross profit
$564.00M
EBITDA
-$500.00M
Net income
-$575.00M
Earnings per share
$-5.83
Research and development
$750.00M
Shares outstanding
98.60M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$673.00M$564.00M-$575.00M-$5.83
2024-12-31$560.00M$483.00M-$569.00M-$6.29
2023-12-31$434.00M$389.00M-$607.00M-$8.25
2022-12-31$363.33M$335.01M-$707.42M-$10.12
2021-12-31$351.41M$335.40M-$454.02M-$6.70
2020-12-31$271.03M$264.90M-$186.57M-$3.07
2019-12-31$103.71M$94.71M-$402.73M-$7.12
2018-12-31$51.49M$50.35M-$197.61M-$3.97
2017-12-31$2.61M$2.61M-$302.14M-$7.12
2016-12-31$133.00K--$245.87M-$6.21

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3183.80%-85.44%--
2024-12-3186.25%-101.61%-223.14%-181.69%
2023-12-3189.63%-139.86%-220.73%-178.21%
2022-12-3192.21%-194.71%-200.97%-169.17%
2021-12-3195.44%-129.20%-49.21%-39.58%
2020-12-3197.74%-68.84%-16.16%-27.45%
2019-12-3191.31%-388.31%-61.60%-61.41%
2018-12-3197.77%-383.75%-32.45%-60.99%
2017-12-3199.96%-11,567.34%-78.79%-81.56%
2016-12-31--184,867.67%-51.87%-52.33%

Cash and debt by year

Period endCash
2025-12-31$421.00M
2024-12-31$174.00M
2023-12-31$214.00M
2022-12-31$132.94M
2021-12-31$307.58M
2020-12-31$713.53M
2019-12-31$755.23M
2018-12-31$459.71M
2017-12-31$234.49M
2016-12-31$380.15M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31-$472.00M$153.00M
2024-12-31-$421.00M$158.00M
2023-12-31-$519.00M$135.00M
2022-12-31-$496.59M$130.37M
2021-12-31-$411.79M$104.98M
2020-12-31-$176.13M$85.73M
2019-12-31-$370.21M$82.00M
2018-12-31-$294.64M$80.11M
2017-12-31-$256.64M$68.01M
2016-12-31-$171.16M$48.31M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-03Sep 2026-$1.15
2026-08-04Jun 2026-$1.27
2026-05-05Mar 2026-$1.55
2026-02-12Dec 2025-$1.22
2025-11-04Sep 2025-$1.23
2025-08-05Jun 2025-$1.27
2025-05-06Mar 2025-$1.54
2025-02-13Dec 2024-$1.24

Filings and sources

Company website
ultragenyx.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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