Analysts Lower Ultragenyx (RARE) Target but Stay Bullish

Core Viewpoint - Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is viewed positively by analysts despite recent setbacks in clinical trials, with price targets being adjusted but maintaining Buy ratings from multiple firms [1][4]. Group 1: Analyst Ratings and Price Targets - H.C. Wainwright reduced its price target on Ultragenyx from $80 to $60 while keeping a Buy rating, indicating a significant upside from the current price [1]. - Guggenheim also lowered its price target from $64 to $52 but maintained a Buy rating, highlighting the potential of upcoming Phase 3 Aspire study data in Angelman syndrome [4]. Group 2: Clinical Trials and Company Outlook - The company’s pivotal trials for setrusumab in osteogenesis imperfecta (OI) did not achieve statistical significance against primary endpoints, which was previously seen as a key value driver [2]. - Despite the trial results, H.C. Wainwright noted that the stock had been trading at attractive levels prior to the announcements, suggesting limited downside risk [3]. Group 3: Company Profile - Ultragenyx is a diversified, commercial-stage biopharma company focused on developing therapies for serious rare and ultra-rare genetic diseases, with multiple approved products generating revenue and a pipeline of clinical-stage assets [3].