Ultragenyx Pharmaceutical: Promising Developments and Strategic Progress Drive Buy Rating

Yaron Werber, an analyst from TD Cowen, maintained the Buy rating on Ultragenyx Pharmaceutical (RARE – Research Report). The associated price target remains the same with $86.00.

Yaron Werber’s rating is based on several promising developments within Ultragenyx Pharmaceutical. The company has shown strong performance in its Crysvita sales, and there is optimism surrounding the Phase 3 Orbit trial for setrusumab, which is expected to yield positive results either at the second interim analysis or the final analysis. This optimism is supported by favorable statistical modeling and previous Phase 2 data that demonstrated significant fracture reduction, suggesting a high probability of success.
Furthermore, management’s confidence and the trial’s robust design, which includes a diverse patient population, bolster the expectation of positive outcomes. The potential for substantial stock appreciation if the trial meets its interim goals further supports the Buy rating. Overall, the combination of these factors, including the strategic progress of other key projects like UX111, positions Ultragenyx as a compelling investment opportunity.

In another report released on April 28, Barclays also maintained a Buy rating on the stock with a $81.00 price target.

Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RARE in relation to earlier this year.