- "Ultragenyx (RARE +3.8%) has a broad and promising pipeline consisting of four therapies for five rare and serious genetic diseases," says Canaccord analyst Salveen Richter, initiating the red-hot recently IPOd stock with a Buy and $85 price target. "We like the orphan-disease-focused strategy for early proof-of-concept, short time-to-clinic, exclusivity and pricing power and particularly the leveragability of this model." He estimates $1B in peak worldwide sales for the company, with high chance of securing regulatory approval. " In addition, we view the preclinical asset (rhPPCA) as a free call option and expect a continued focus on early-stage R&D."
- Cowen and Morgan also launch coverage with Buys.
- Ahead since its IPO, but a relative slacker compared to RARE, Cara Therapeutics (CARA +2.6%) also rates a Buy from Canaccord with $25 price target. "We expect positive data from three upcoming post-op Ph3 studies in H2/15," says analyst Ritu Baral. "We think ‘845 could gain significant market share and model potential US peak sales of $750M."
- Stifel, Janney, and Piper also chime in with Buy ratings.
From other sites
at CNBC.com (Jan 15, 2015)
at Benzinga.com (Jan 12, 2015)
Ultragenyx Initiates New Development Program Studying KRN23 for the Treatment of Tumor-Induced Osteomalaciaat Benzinga.com (Jan 6, 2015)
at MarketWatch.com (Oct 3, 2014)
at CNBC.com (Jun 20, 2014)
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