Ultragenyx assumed with a Buy at H.C. Wainwright

H.C. Wainwright analyst Ed Arce assumed coverage of Ultragenyx with a Buy rating and $82 price target. Ultragenyx has a diverse, late-stage clinical pipeline of seven programs across three rare disease franchises, Arce tells investors in a research note. The analyst says "good news" on GTX-102 in 2023 could raise the visibility on the rest of the pipeline. Investors are focused primarily on the Angelman syndrome program as the main value driver for the stock, writes the analyst. He believes the shares are trading at a "deep discount" into a "catalyst-rich" 2023.