Ultragenyx Pharmaceutical (RARE) experienced a significant drop of approximately 42% on Monday after two late-stage trials for a rare bone disorder treatment failed. However, the stock recovered about 11% in early Tuesday trading. Jefferies analyst Maury Raycroft maintains a "buy" rating, citing potential gains from a phase 3 readout of apazunersen (GTX-102) in 2024. Raycroft adjusted his price target to $63, suggesting a 219% upside. Ultragenyx continues to aim for profitability by 2027 and plans to address expense reductions in early 2026.
https://www.gurufocus.com/news/4090257/ultragenyx-rare-sees-potential-rebound-despite-recent-setback
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