Ultragenyx Pharmaceutical (NASDAQ: RARE) is a biotechnology company that develops treatments for rare and ultra-rare diseases. RBC Capital Markets analyst Luca Issi has initiated coverage of the company with an outperform rating and a $77 price target, suggesting 82% upside potential from current levels.
Issi cites several growth opportunities for Ultragenyx, including its late-stage pipeline of drugs. The company’s treatment for Osteogenesis Imperfecta, or brittle bone disease, has shown promising results in clinical trials. Issi also points to Ultragenyx’s treatments for Angelman syndrome, Glycogen storage disease type 1, and Wilson’s disease as potential drivers of future growth.
In addition to its late-stage pipeline, Ultragenyx’s base business is also growing at a steady pace. The company’s rare bone disease drug Crysvita, long-chain fatty acid oxidation disorder drug Dojolvi, and therapies Mepsevii and Evkeeza are all performing well.
Overall, Issi believes Ultragenyx Pharmaceutical is well-positioned for growth and has a favorable risk/reward profile. He rates the stock outperform with a $77 price target.
