Ultragenyx price target raised to $140 from $135 at Piper Sandler

Piper Sandler analyst Christopher Raymond raised the firm’s price target on Ultragenyx (RARE) to $140 from $135 and keeps an Overweight rating on the shares following the announcement of preliminary FY24 revenues and nice implied Q4 beats for Crysvita and Dojolvi. Management also shared 2025 total revenue guidance of $640M-$670M, and while individual product revenue guidance was not provided, Piper expects growth for both Crysvita and Dojolvi.