William Blair analyst Sami Corwin has maintained their bullish stance on RARE stock, giving a Buy rating yesterday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Sami Corwin has given his Buy rating due to a combination of factors surrounding Ultragenyx Pharmaceutical’s ongoing clinical trials and their potential outcomes. Despite the setback in the second interim analysis of the Phase III Orbit study, which did not meet the criteria for early termination, Corwin remains optimistic about the final analysis expected at year-end. The study continues to show an acceptable safety profile for setrusumab, and the trials are designed with strong statistical power to demonstrate significant differences in fracture rates.
Corwin’s confidence is further supported by the anticipated results from both the Orbit and Cosmic studies, which are expected to provide comprehensive data by the end of the year. The market’s negative reaction to the interim results is seen as an overreaction, given the potential for positive outcomes in the final analyses. This outlook underpins the Buy rating, as the long-term prospects for Ultragenyx’s treatments in osteogenesis imperfecta remain promising.
According to TipRanks, Corwin is a 3-star analyst with an average return of 1.6% and a 41.54% success rate. Corwin covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, PTC Therapeutics, and Crispr Therapeutics AG.
In another report released yesterday, J.P. Morgan also reiterated a Buy rating on the stock with a $116.00 price target.