Stifel analyst Dae Gon Ha reiterated a Buy rating and $131 price target on Ultragenyx (RARE) following Roche’s (RHHBY) decision to prematurely halt further development of rugonersen in Angelman syndrome. The firm believes the move can be interpreted in numerous ways, but is taking a “glass half-full view” that it is positive for GTX-102. With modest doses used and early but encouraging efficacy signals so far, the firm sees reasons to be optimistic on GTX-102 as it approaches the 2H23 data catalyst.
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