William Blair analyst Sami Corwin has maintained their bullish stance on RARE stock, giving a Buy rating on August 8.
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Sami Corwin has given his Buy rating due to a combination of factors that highlight Ultragenyx Pharmaceutical’s promising developments and strategic advancements. The initiation of the rolling BLA submission for DTX401, a gene therapy aimed at treating glycogen storage disease type Ia, marks a significant milestone. This submission includes promising clinical data that showed a substantial reduction in cornstarch intake among patients, indicating the therapy’s potential efficacy.
Furthermore, the progress in addressing the FDA’s observations related to the CRL for UX111 is seen as a positive indicator of the company’s capability to resolve regulatory challenges. This development, coupled with the strategic timing of BLA submissions, positions Ultragenyx to potentially capitalize on the rare pediatric disease PRV program before its sunset provision. Despite some near-term uncertainties, particularly regarding the upcoming OI readout, the overall outlook remains optimistic, supporting the Buy rating.
Corwin covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Ultragenyx Pharmaceutical, and PTC Therapeutics. According to TipRanks, Corwin has an average return of 4.6% and a 46.05% success rate on recommended stocks.
In another report released on August 8, Piper Sandler also maintained a Buy rating on the stock with a $105.00 price target.