Analyst Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on Ultragenyx Pharmaceutical (RARE – Research Report) and keeping the price target at $83.00.
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Tazeen Ahmad’s rating is based on a combination of factors including Ultragenyx Pharmaceutical’s robust financial outlook and promising late-stage pipeline developments. The company has reiterated its FY25 revenue guidance, projecting a growth rate of approximately 17% year-over-year, which indicates strong commercial performance. This growth is further supported by specific sales projections for key products like Crysvita and Dojolvi.
Furthermore, the analyst highlights multiple late-stage pipeline catalysts expected in 2025, such as the pivotal setrusumab program for osteogenesis imperfecta and the phase 3 study for DTX301 in OTC deficiency. These developments are expected to provide significant growth avenues if successful. Additionally, the company’s strategic amendments to ongoing trials reflect a proactive approach to addressing real-time feedback and ensuring robust data integrity. These factors contribute to the confidence in the company’s future prospects, justifying the Buy rating with a price objective of $83.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $140.00 price target.