MLV & Co. Believes RARE Won’t Stop Here

By George MacDonald

MLV & Co. analyst Arlinda Lee initiated coverage with a Buy rating on Ultragenyx (NASDAQ: RARE) yesterday and set a price target of $79. The company’s shares opened today at $62.09, close to its 52-week high of $64.99.

Lee noted, “With four product candidates in the clinic for six debilitating and life-threatening diseases, RARE has acquired and is rapidly developing a diversified portfolio of therapeutic drug candidates to treat orphan and ultra-orphan diseases. The rationale for developing each of its product candidates is grounded by existing data. Additionally, Management’s strong leadership and experience in developing successful therapeutics for genetic orphan diseases bode well for the prospects of RARE’s portfolio. We are optimistic that RARE’s drug candidates can garner regulatory approval as early as next year and attain commercial success. We initiate coverage with a Buy rating and $79 PT”

Currently, the analyst consensus on Ultragenyx is Strong Buy and the average price target is $72.83, representing a 17.3% upside. In a report issued on March 24, CRT Capital also initiated coverage with a Buy rating on the stock with a $90 price target.

The company has a one year high of $64.99 and a one year low of $32.02. Currently, Ultragenyx has an average volume of 321.5k.

According to TipRanks.com, Lee is a 2-star analyst with an average return of 0.9% and a 40.9% success rate. Lee covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Karyopharm Therapeutics, and Sorrento Therapeutics.

Ultragenyx Pharmaceutical Inc is biopharmaceutical company. It is engagedidentification, acquisition, development & commercialization of novel products for treatment of rare &ultra-rare diseases, with focus on debilitating metabolic genetic diseases.