J.P. Morgan analyst Anupam Rama has maintained their bullish stance on RARE stock, giving a Buy rating on August 8.
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Anupam Rama has given his Buy rating due to a combination of factors that highlight the potential of Ultragenyx Pharmaceutical’s setrusumab in treating osteogenesis imperfecta. The positive outlook is primarily driven by the mechanism of action of setrusumab, which increases bone mineral density, and the expectation that longer follow-up periods will allow for a clearer distinction between the drug and placebo effects in the ORBIT study.
Furthermore, the analyst notes that the ongoing studies, COSMIC and ORBIT, are well-positioned to demonstrate significant benefits, with a focus on fracture reduction as a primary endpoint. The potential for a 40-60% improvement in fracture rates compared to placebo is seen as a significant win. Additionally, the company’s broader pipeline and commercial momentum are underappreciated, suggesting further upside potential for the stock, with shares expected to rise into the mid-$60s on positive data outcomes.
Rama covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Vera Therapeutics, and Replimune Group. According to TipRanks, Rama has an average return of -6.7% and a 38.99% 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.