Jefferies Remains Bullish as Ultragenyx Pharma (RARE) Shares Come Under Pressure

Jefferies reiterated a Buy rating and $118.00 price target on Ultragenyx Pharma (NASDAQ: RARE) as the stock has come under pressure. The pressure is mainly due to RARE's partner's, KHK, conservative sales projection, and some confusion on royalty rates for KRN23. Jefferies sees current pullback as a buying opportunity.

Analyst Gena Wang commented, "RARE stock has been under pressure, mainly due to partner KHK’s conservative sales projection and some confusion on royalty rates for KRN23. With no material changes in program progression, royalty structure and pricing strategy, our assumptions for KRN23 market potential remain intact (peak WW sales of $2.5B (excluding JP), or ~$700M to RARE). We see a buying oppt given current ~$1.5B EV and multiple low-risk catalysts in mid/late-16."

For an analyst ratings summary and ratings history on Ultragenyx Pharma click here. For more ratings news on Ultragenyx Pharma click here.

Shares of Ultragenyx Pharma closed at $54.26 yesterday.

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