Morgan Stanley analyst Maxwell Skor maintained a Buy rating on Ultragenyx Pharmaceutical (RARE – Research Report) yesterday and set a price target of $65.00.
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Maxwell Skor’s rating is based on several strategic developments and future prospects for Ultragenyx Pharmaceutical. The company’s focus on setrusumab, particularly its second interim readout anticipated mid-year, is seen as a significant catalyst that could expand their rare bone disease franchise. Management’s confidence in the program, supported by positive Phase 2 results, adds to the optimism surrounding this potential advancement.
Moreover, the regulatory landscape appears favorable, with supportive comments from FDA Commissioner Marty Makary on rare disease approvals, which could accelerate the approval process. The potential for multiple Priority Review Vouchers, contingent on the approval of UX111 and DTX401, further enhances the company’s growth prospects. These factors collectively contribute to Skor’s Buy rating, as they indicate a promising trajectory for Ultragenyx’s financial and operational success.
According to TipRanks, Skor is an analyst with an average return of -14.6% and a 21.21% success rate. Skor covers the Healthcare sector, focusing on stocks such as Pharvaris, Cytokinetics, and Insmed.
In another report released on May 7, Citi also maintained a Buy rating on the stock with a $110.00 price target.