Ultragenyx price target lowered to $26 from $27 at Wedbush

Wedbush lowered the firm’s price target on Ultragenyx (RARE) to $26 from $27 and keeps a Neutral rating on the shares. While the top-line miss is disappointing, the firm looks for Crysvita to course-correct over the remainder of the year as management reiterated all elements of FY26 revenue guidance. Additionally, they continue to anticipate reaching profitability in 2027. Most important in the near-term, Wedbush awaits Phase 3 ASPIRE data for GTX102, while Ultragenyx holds two PDUFAs for DTX401 and UX111 with both providing an opportunity for monetizable PRVs.