Analyst Luca Issi began research coverage of the pharmaceutical company, which develops treatments for rare and ultra-rare diseases, with an outperform rating.
Ultragenyx Pharmaceutical has several growth opportunities ahead that could lead its share price to boom over the next year, according to RBC Capital Markets. Analyst Luca Issi initiated research coverage of the pharmaceutical company, which develops treatments for rare and ultra-rare diseases, with an outperform rating and $77 price target. That suggests shares could climb 82% over the next 12 months. The stock has lost 9.5% so far in 2024, but climbed 2.5% on Monday.
The analyst pointed to a "highly de-risked" opportunity for the company's treatment of genetic bone disorder Osteogenesis Imperfecta, or brittle bone disease, which affects roughly 60,000 people in the developed world and currently has no approved therapies. Ultragenyx, however, has an anti-sclerostin monoclonal antibody that promotes bone formation and has provided a 67% reduction in bone fracture in a Phase II trial, lending confidence to Issi's bullish thesis on the stock.
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