Leerink Partners analyst Joseph Schwartz maintained a Buy rating on Ultragenyx Pharmaceutical (RARE – Research Report) yesterday and set a price target of $90.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors that highlight the potential of Ultragenyx Pharmaceutical. The company’s first-quarter results aligned with expectations, and its revenue guidance for the year suggests a healthy growth trajectory. Despite trading at a modest premium, the stock’s valuation appears attractive given its cash position and the potential of its pipeline.
A significant focus is on the ORBIT study involving setrusumab for osteogenesis imperfecta, where the upcoming second interim analysis is anticipated to yield positive results. This optimism is bolstered by a lower statistical threshold and other favorable dynamics. Additionally, Ultragenyx has several upcoming regulatory and clinical milestones that could further enhance investor interest. These factors, combined with the promising outlook for setrusumab, reinforce the company’s position as a top pick for 2025.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $86.00 price target.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RARE in relation to earlier this year.