JPMorgan ups Ultragenyx target, adds to Analyst Focus List

JPMorgan analyst Anupam Rama raised the firm’s price target on Ultragenyx to $84 from $79 and keeps an Overweight rating on the shares. The analyst also added the shares to the firm’s Analyst Focus List. The company’s first half of 2024 is a catalyst rich period, and Ultragenyx appeared confident heading into key updates, the analyst tells investors in a research note. At current levels, the firm does not believe Ultragenyx shares appropriately reflect the probability adjusted potential of its “pipeline shots-on-goal.”