两项三期临床折戟致股价腰斩，杰富瑞看好Ultragenyx (RARE.US)2026年借候选药物反弹，给予“买入”评级

Core Viewpoint - Ultragenyx Pharmaceutical's stock dropped approximately 42% due to the failure of two late-stage clinical trials for rare bone disease assets, but Jefferies remains optimistic about the company's pipeline and potential rebound by 2026 [1] Group 1: Company Performance - Ultragenyx's stock closed down about 42% following the failure of two late-stage clinical trials [1] - Jefferies analyst Maury Raycroft maintains a "Buy" rating for Ultragenyx, suggesting potential benefits from the upcoming phase three data for apazunersen (GTX-102), a treatment for Angelman syndrome [1] - The target price for Ultragenyx has been adjusted from $114 to $63, indicating approximately 219% upside potential based on the closing price [1] Group 2: Future Outlook - The company is expected to maintain its 2027 profit guidance and plans to clarify spending cuts in early 2026 [1] - Raycroft notes that hope is not entirely lost for setrusumab, which recently failed in a phase three trial for osteogenesis imperfecta, as the FDA has recently listed bone mineral density (BMD) as a surrogate endpoint for osteoporosis [2] - Citigroup has taken a less optimistic stance, removing Ultragenyx from its 90-day catalyst watch list [2]