Bank of America Securities analyst Tazeen Ahmad maintained a Buy rating on Ultragenyx Pharmaceutical yesterday and set a price target of $80.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors related to Ultragenyx Pharmaceutical’s ongoing developments and potential growth. Despite the phase 3 Orbit study for setrusumab in osteogenesis imperfecta not reaching statistical significance at the second interim read, the study continues to the final readout, which is expected to enhance the likelihood of success. The company’s confidence in setrusumab is supported by previous phase 2 data and expert feedback, and any negative stock movement is seen as a buying opportunity.
Additionally, Ultragenyx has a robust pipeline with several promising programs. The company anticipates significant revenue from its established rare disease franchise and has upcoming milestones, such as the BLA submission for DTX401 and potential approval of UX111 for Sanfilippo syndrome. These developments, along with the potential of GTX-102 for Angelman syndrome, contribute to the positive outlook and support the Buy rating, with a price objective of $80.
RARE’s price has also changed slightly for the past six months – from $43.650 to $41.440, which is a -5.06% drop .