NOVATO, Calif. (AP) _ Ultragenyx Pharmaceutical Inc. (RARE) on Thursday reported second-quarter net income of $25.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Novato, California-based company said it had profit of 41 cents. Losses, adjusted for non-recurring gains, came to 82 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of $1.56 per share.
The biotechnology company posted revenue of $61.7 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $40.3 million.
Ultragenyx expects full-year revenue in the range of $125 million to $140 million.
Ultragenyx shares have increased 82% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $77.60, a rise of 26% in the last 12 months.