Leerink Lifts PT on Ultragenyx Pharma (RARE) to $94 Amid Solid KRN23 Data in XLH
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Leerink boosts its price target on Ultragenyx Pharma (Nasdaq: RARE) from $85 to $94 after the company announced positive interim data from the ongoing pediatric Phase 2 study of KRN23 for the treatment of X-linked hypophosphatemia (XLH). The firm has Ultragenyx at Outperform.
The firm commented today,
Ultragenyx presented updates to its KRN23 studies in Ph.2 pediatric X-linked hypophosphatemia (XLH) and Ph.2 tumor-induced osteomalacia (TIO) pts. at the American Society for Bone and Mineral Research (ASBMR) meeting. Notably, pediatric XLH pts. continued to demonstrate improvements in their bone health (as measured by radiography) while maintaining a favorable safety profile (including an asymptotic serum phosphorus level). In addition, data from TIO pts., albeit small (n=8), is suggestive of a possible label expansion beyond XLH.
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