Morgan Stanley analyst Jeffrey Hung made no change to the firm’s Overweight rating and $95 price target on Ultragenyx (RARE) after Roche (RHHBY) said it will not conduct another clinical trial for rugonersen and has begun searching for an external partner to take over development. Morgan Stanley tells investors in a research note that Ultragenyx was able to achieve similar effects as Roche with lower doses of GTX-102 and that the region it is targeting closer to the 5′ end is more potent. The firm sees the update as positive for Ultragenyx with one fewer competing program for Angelman syndrome in development.
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Published first on TheFly
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