Ultragenyx Pharma (RARE) PT Raised to $72 at Baird

Baird analyst Joel Beatty raised the price target on Ultragenyx Pharma (NASDAQ: RARE) to $72.00 (from $68.00) while maintaining a Outperform rating.

The analyst commented: "This afternoon, Ultragenyx announced positive top-line data from the pivotal Phase 3 GlucoGene study of DTX401, the company's gene therapy candidate for the treatment of glycogen storage disease type Ia (GSDIa). Overall, we were encouraged by the Phase 3 results and believe this dataset provide a clear path to approval (BLA expected in 2025), hence, we've increased our probability of success of DTX401 to 90% in our model which leads us to increase our new price target to $72/share."

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