Ultragenyx Pharmaceutical, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tazeen Ahmad from Bank of America Securities maintained a Buy rating on the stock and has a $79.00 price target.
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Tazeen Ahmad’s rating is based on several compelling factors. The management of Ultragenyx Pharmaceuticals has expressed strong confidence in the success of their pivotal Osteogenesis Imperfecta (OI) program, with expectations for a positive final analysis by year-end. The company anticipates that the additional six months of treatment will enhance the likelihood of achieving statistically significant results, and the safety profile of setrusumab remains favorable. Furthermore, the commercial potential of the OI program is seen as substantial, with management viewing it as a potential blockbuster opportunity, comparable to Crysvita, with a similar pricing strategy.
Additionally, there is potential upside in efficacy due to the bisphosphonate washout, which could positively impact the final 18-month readout. The Angelman syndrome program is also progressing well, with the phase 3 trial completing enrollment ahead of schedule, highlighting the high unmet need in this area. The company is also working towards resolving gene therapy CMC concerns with the FDA, aiming for approvals before the PRV expiration in September 2026. These strategic developments, combined with a robust pipeline, underpin Ahmad’s Buy rating with a price objective of $79.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $80.00 price target.