Ultragenyx initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Kristen Kluska initiated coverage of Ultragenyx Pharmaceutical with an Overweight rating and $114 price target. Ultragenyx is a commercial-stage biopharmaceutical company that develops and markets treatments for rare diseases across its multiple platforms, the analyst tells investors in a research note. The firm sees a "great entry point" with the stock down 42% over the last year. At current share levels, Ultragenyx isn’t receiving adequate credit for its commercial portfolio, which includes four therapies in five indications with Crysvita representing one of the most successful rare disease launches, the analyst tells investors in a research note. With that said, Cantor remains most excited about the company’s clinical pipeline.