Yigal Nochomovitz, an analyst from Citi, maintained the Buy rating on Ultragenyx Pharmaceutical. The associated price target remains the same with $110.00.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors related to Ultragenyx Pharmaceutical’s current market position and future potential. He notes that the recent decline in the stock price following the second interim analysis of the ORBIT trial presents a buying opportunity, as the stock is now trading below its base business valuation. Nochomovitz’s analysis suggests a strong likelihood of success in the final analysis of the ORBIT trial, with an estimated 85% chance of achieving significant results.
Furthermore, Nochomovitz has utilized a negative binomial model to evaluate the trial’s potential outcomes, indicating confidence in the trial’s success despite some expected degradation of effect. His deep literature analysis supports the belief that the placebo annualized fracture rate will fall within a specific range, reinforcing the positive outlook for the trial’s final results. Overall, the expected share price return of 165.4% underscores the high potential reward, justifying the Buy rating despite the associated risks.
RARE’s price has also changed slightly for the past six months – from $43.650 to $41.440, which is a -5.06% drop .