Jefferies analyst Ryan Martins provided his take on SIMD abstracts relevant to Ultragenyx Pharma (NASDAQ: RARE). The firm reiterated a Buy rating and $74 price target.

Martins commented, "RARE will present 12 month data from the eIND patient on rhGUS, where we expect sustained/improved efficacy. While we will get an initial look at THN in LC-FAOD from a randomized trial, we see limited read-through to RARE's ongoing ph 2 due to differences in trial design (dosing, endpoint & inclusion/exclusion criteria). We do not believe NIH study of ManNAc in HIBM poses a competitive risk to SA-ER."

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Shares of Ultragenyx Pharma closed at $58.37 yesterday.