Ultragenyx price target lowered to $47 from $48 at Wedbush

Wedbush lowered the firm’s price target on Ultragenyx to $47 from $48 and keeps a Neutral rating on the shares. Though Ultragenyx reported a top-line miss, all pipeline readouts remain on track, the analyst tells investors in a research note. Ultragenyx remains a pipeline story with the stock largely driven by data and Wedbush waits for shares to reach a more attractive entry point.