Cantor Fitzgerald raised the firm’s price target on Ultragenyx to $115 from $107 and keeps an Overweight rating on the shares. Ultragenyx reported top-line Phase 3 data from DTX401 in Glycogen Storage Disease Type Ia, saying the trial met the primary endpoint of a statistically significant reduction in daily cornstarch intake and 2/3 key secondary endpoints, the analyst tells investors in a research note. The firm does not expect this program to alter sentiment towards Ultragenyx, which remains quite mixed, but believes the next few potential catalysts for the stock this year could lead to a reversal in performance.
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