Ultragenyx price target raised to $83 from $81 at Barclays

Barclays raised the firm’s price target on Ultragenyx to $83 from $81 and keeps an Overweight rating on the shares. The firm said that “positive” Phase 3 in GSDIa is “likely approvable,” althorugh the magnitude of corn starch intake reduction appeared smaller than Phase 1/2, which could be partially due to more cautious physician action in a blinded study. Barclays expects further improvement to approach roughly 70% reduction.