Leerink is "cautiously optimistic" on Ultragenyx Pharma's (RARE) triheptanoin
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Leerink Partners analyst, Joseph Schwartz, reiterated his Outperform rating on shares of Ultragenyx Pharma (NASDAQ: RARE) as he believes triheptanoin could be RARE’s second largest product behind KRN23 and have more impactful news flow over the near term.
In anticipation of upcoming LC-FAOD and Glut1 DS data in 2H16, the analyst took a closer look at the company-sponsored triheptanoin programs and is cautiously optimistic for positive data in both. He estimates a 60% probabilities of success.
The analyst stated "Based on triheptanoin’s underlying mechanism which resembles interventions that have worked before (MCT and KD), previous investigator data showing ~50% reduction in seizures on EEG, offset by small study size, patient demographics and the potential need for an additional (i.e. superiority to KD study) study, the analyst remain cautiously optimistic on triheptanoin prospects in Glut1 DS ahead of Ph2 seizure data in 2H".
No change to $85 PT.
Shares of Ultragenyx Pharma closed at $69.36 yesterday.
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