Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is one of the 12 best buy-the-dip stocks to invest in now.
As of June 5 closing, the consensus sentiment around Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) remained strongly bullish
Based on a median one-year target price of $51.87, the stock offers more than 122% upside. Sergey Nivens/ Back on May 21, Kristen Kluska from Cantor Fitzgerald increased the target price for the stock from $84 to $96, resulting in a revised upside potential of almost 312%. The analyst reiterated her Overweight rating on the stock, based on a greater statistical success probability of GTX-102 to cure Angelman syndrome.
This stems from the Phase 3 design, enabling the threshold for statistical significance to be compartmentalized into 2 endpoints, i.e., MDRI and Bayley-4 cognitive raw score. More recently, the U.S. Food and Drug Administration issued draft guidance designed to streamline the development and regulatory submission process for promising human gene therapies.