Why Ultragenyx Pharmaceuticals Stock Is Plummeting Today

Core Insights - Ultragenyx Pharmaceuticals announced disappointing Phase 3 study results for setrusumab, leading to a significant drop in stock price [1][4] - Analysts have reacted by slashing price targets for Ultragenyx stock, reflecting a negative outlook [7][9] Company Performance - Ultragenyx's shares are down 43.5%, currently priced at $19.25, with a market cap of $3.3 billion [2][5] - The Phase 3 studies, Orbit and Cosmic, failed to meet primary endpoints related to fracture rate reductions [4][6] Analyst Reactions - Cantor Fitzgerald cut its price target for Ultragenyx from $105 to $84 [9] - Barclays reduced its price target from $81 to $50 [9] - Citigroup lowered its price target from $103 to $50 [9] Market Context - The current trading range for Ultragenyx shares is between $18.41 and $20.49, with a 52-week range of $18.41 to $46.50 [5][6] - The gross margin for the company stands at 79.09% [6] Future Considerations - Investors are advised to monitor the company’s upcoming data from the Phase 3 study of GTX-102 for Angelman syndrome before making investment decisions [8]