JPMorgan analyst Anupam Rama removed Ultragenyx (RARE) from the firm’s Analyst Focus List after the company announced that neither the ORBIT nor the COSMIC studies achieved the primary endpoint of reduction in annualized fracture rate. The analyst is “surprised and disappointed” by the outcome. JPMorgan expects a sentiment overhang on Ultragenyx shares moving forward. The firm keeps an Overweight rating on the name.
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