Morgan Stanley analyst Maxwell Skor maintained a Buy rating on Ultragenyx Pharmaceutical today and set a price target of $55.00.
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Maxwell Skor has given his Buy rating due to a combination of factors that position Ultragenyx Pharmaceutical for future success. The company has secured $400 million in non-dilutive financing from OMERS, which strengthens its liquidity and supports its launch preparations while deferring payments until 2028. This financial strategy is expected to help Ultragenyx maintain its path to profitability by 2027.
Additionally, the upcoming Phase 3 data readouts for the Setrusumab Orbit/Cosmic trials are pivotal. Management has expressed confidence in Setrusumab’s potential as a transformative therapy for Osteogenesis Imperfecta, with expectations of significant fracture reduction and improvements in patient quality of life. The market opportunity for this treatment is anticipated to be substantial, potentially larger than that for XLH, with early adoption likely among severe cases. Positive feedback from key opinion leaders further bolsters confidence in the company’s strategic direction and potential for growth.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $75.00 price target.