Canaccord Reiterates Buy on Ultragenyx Pharmaceutical Inc (RARE) Following Positive Phase 3 Trial

In a research report issued Friday, Canaccord analyst Arlinda Lee reiterated a Buy rating on shares of Ultragenyx Pharmaceutical Inc (NASDA:RARE) with a price target of $120, after the company announced positive top-line data from the pivotal Phase 3 trial of recombinant human beta-glucuronidase (rhGUS) in replacement therapy in development for Mucopolysaccharidosis 7 (MPS 7) is being presented at the 14th International Symposium on MPS and Related Diseases.

Lee believe that rhGUS data support regulatory approval in 2H17. Moreover, the analyst is favorable on RARE due to its upcoming catalysts: “In 2016, we expect full Ph2 pediatric XLH KRN23 40-week data in 52 patients and 64-week data in 36 patients; interim Ph2 KRN23 TIO data (ASBMR; 3Q); Ph2 UX007 LC-FAOD 78-week data; CHMP opinion on Ace-ER CMA in GNEM; Ph2 UX007 52-week Glut1 DS seizure data. In 2017, we expect regulatory approvals and launches for rhGUS and Ace-ER, EMA CMA for KRN23 in pediatric XLH; Ph3 data for AceER in GNEM and Ph3 adult KRN23 XLH data, and entry of a fifth drug candidate, rhPCCA for galactosialidosis, into the clinic.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Arlinda Lee has a yearly average return of -26.2% and a 19% success rate. Lee has a -21.9% average return when recommending RARE, and is ranked #3964 out of 4060 analysts.

Out of the 13 analysts polled by TipRanks, 11 rate Ultragenyx Pharmaceutical stock a Buy, 1 rates the stock a Hold and 1 recommends a Sell. With a return potential of 95%, the stock’s consensus target price stands at $96.45.

RARE Chart

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts