In a report released today, Yaron Werber from TD Cowen reiterated a Buy rating on Ultragenyx Pharmaceutical, with a price target of $86.00.
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Yaron Werber has given his Buy rating due to a combination of factors that highlight Ultragenyx Pharmaceutical’s promising prospects. The company reported strong second-quarter results, with Crysvita, Doljovi, and total revenues exceeding expectations. Management has reaffirmed their guidance for fiscal year 2025 and their path to achieving full-year GAAP profitability by 2027, which strengthens investor confidence.
Furthermore, despite some temporary setbacks such as the FDA’s Complete Response Letter for UX111, Werber sees these as resolvable issues. The ongoing progress of the Orbit trial, which is expected to reach its final analysis by the end of 2025, shows potential for success based on previous data. Additionally, the Angelman program is advancing ahead of schedule, and management is addressing regulatory concerns proactively. These factors contribute to a favorable risk/reward profile, justifying the Buy rating.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 45 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.