Leerink Partners analyst Joseph Schwartz has reiterated their bullish stance on RARE stock, giving a Buy rating on September 9.
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Joseph Schwartz has given his Buy rating due to a combination of factors that highlight the promising future of Ultragenyx Pharmaceutical. The company’s recent presentation of extended data from the Phase 3 GlucoGene study for DTX401 in Glycogen Storage Disease Type Ia (GSDIa) has shown significant improvements over time. The therapy demonstrated a substantial reduction in daily cornstarch intake and maintained low hypoglycemia levels, which are critical for patient health.
Moreover, the data at 96 weeks showed even more impressive results compared to the 48-week data, with both the DTX401 group and the crossover group achieving a mean reduction in daily cornstarch intake of 61% from baseline. This progress indicates the drug’s potential to reach curative levels, significantly improving patients’ quality of life. The early results from an open-label arm in Japan further support the drug’s efficacy, with participants achieving a 95% mean reduction in daily cornstarch intake. These findings suggest that DTX401 is more effective than previously assumed, reinforcing the Buy rating for Ultragenyx Pharmaceutical.
Schwartz covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, PTC Therapeutics, and Travere Therapeutics. According to TipRanks, Schwartz has an average return of 20.1% and a 50.50% success rate on recommended stocks.
In another report released on September 9, H.C. Wainwright also reiterated a Buy rating on the stock with a $80.00 price target.