Citi added an “upside 90-day short-term view” on Ultragenyx (RARE) while keeping a Buy rating on the shares with a $110 price target It recommends buying the selloff following the news that the ORBIT trial will proceed to the final analysis and not be stopped early. Citi believes Ultragenyx is again trading below its base business valuation. The analyst sees an 85% chance that the ORBIT study is successful on the final analysis.
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