Bank of America Securities analyst Tazeen Ahmad has reiterated their bullish stance on RARE stock, giving a Buy rating today.
Tazeen Ahmad’s rating is based on Ultragenyx Pharmaceutical’s strong commercial execution in the rare disease market and the promising potential of its late-stage pipeline. The company’s first-quarter revenue figures were largely in line with expectations, and management has reiterated its guidance for fiscal year 2025, projecting a revenue growth of approximately 17% year-over-year at the midpoint. This consistent performance and optimistic outlook contribute to the Buy rating.
Additionally, the company’s ongoing studies, such as the pivotal phase 3 Orbit study for setrusumab in osteogenesis imperfecta, show high confidence in achieving clinically significant results. The potential for successful outcomes in these studies, along with other pipeline projects, presents a significant upside to the current valuation, which currently does not fully reflect the value of these pipeline opportunities. These factors collectively support the Buy recommendation with a price objective of $80.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $86.00 price target.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RARE in relation to earlier this year.