Stifel Resumes Ultragenyx Pharma (RARE) at Buy
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Stifel analyst Dae Gon Ha resumes coverage on Ultragenyx Pharma (NASDAQ: RARE) with a Buy rating and a price target of $179.00.
The analyst comments "Since its 2014 IPO, RARE has received three drug approvals (Mepsevii, Crysvita, and Dojolvi), completed an acquisition (DMTX), and pursued opportunistic business development (e.g., GeneTx, SLDB, MREO). Under the leadership of physician-trained CEO Dr. Emil Kakkis, RARE has been and continues to be relentless in developing meaningful therapies from a science-driven, patient-centric approach. Looking into 2021 and beyond, we believe RARE's prospects remain strong, with five clinical-stage assets poised to generate meaningful catalysts, while organic growth from commercial products are projected to generate $1B in revenues by 2025. We realize drug development — let alone receiving regulatory approvals — is notoriously difficult and recognize RARE hasn't been immune to adversities. Yet, the company's undeterred commitment to rare disease patients keeps us confident in its ability to innovate and execute as well as create value for shareholders."
Shares of Ultragenyx Pharma closed at $141.54 yesterday.
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