Analyst Ed Arce from H.C. Wainwright maintained a Buy rating on Ultragenyx Pharmaceutical (RARE – Research Report) and keeping the price target at $95.00.
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Ed Arce’s rating is based on several promising developments within Ultragenyx Pharmaceuticals. The company has announced a significant milestone in their ongoing Phase 3 Orbit study, which is focused on setrusumab, a monoclonal antibody aimed at reducing fracture risk in patients with osteogenesis imperfecta. The recent data shows a notable reduction in fracture incidence and meaningful improvements in bone mineral density, suggesting the treatment’s effectiveness. These results are expected to support a Biologics License Application filing, marking a crucial step forward for the company.
Additionally, Ultragenyx is making progress with its GTX-102 program for Angelman syndrome. The company aims to complete enrollment for the Phase 3 Aspire study by the second half of 2025, which targets cognitive improvements in affected children. The study’s design and anticipated outcomes, along with the initiation of a new Phase 2/3 Aurora study, reflect a robust pipeline that positions Ultragenyx for future growth. These advancements contribute to Ed Arce’s Buy rating, indicating confidence in the company’s long-term potential.
According to TipRanks, Arce is a 5-star analyst with an average return of 18.6% and a 48.50% success rate. Arce covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Akero Therapeutics, and Acurx Pharmaceuticals.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $86.00 price target.