RBC Capital analyst Luca Issi initiated coverage of Ultragenyx Pharmaceutical with an Outperform rating and $77 price target. The company has a $500M base business growing 30% ann7ally, which “protects the downside,” the analyst tells investors in a research note. The firm is “impressed” by the 67% reduction in bone fractures seen for osteogenesis imperfecta and thinks it can be a $1B opportunity for Ultragenyx. The Phase III is “likely to hit,” contends RBC.
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