Canaccord Genuity analyst Whitney Ijem has maintained their bullish stance on RARE stock, giving a Buy rating today.
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Whitney Ijem has given his Buy rating due to a combination of factors that highlight the potential value and growth prospects of Ultragenyx Pharmaceutical. Despite a recent market reaction to the interim results of the Phase 3 Orbit study for setrusumab, Ijem believes the market has overreacted, as the company’s core business and pipeline offer significant value that is not currently reflected in the stock price. The current valuation provides an opportunity to acquire the base business and the entire pipeline at a discount.
Ultragenyx’s base business, which includes four approved programs, is valued at approximately $40 per share. The company has projected significant revenue growth and aims for profitability by 2027, driven primarily by its existing commercial portfolio. Additionally, the pipeline, which includes promising candidates like GTX-102 and UX111, represents substantial future revenue potential. Ijem’s analysis suggests that the rest of the pipeline is essentially free at the current stock price, offering a compelling investment opportunity for long-term growth.
According to TipRanks, Ijem is a 5-star analyst with an average return of 18.5% and a 52.70% success rate. Ijem covers the Healthcare sector, focusing on stocks such as Verve Therapeutics, Vertex Pharmaceuticals, and Rocket Pharmaceuticals.