William Blair Maintains a Buy on Ultragenyx Pharmaceutical (RARE)

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is one of the best oversold NASDAQ stocks to buy now. On July 14, William Blair analyst Sami Corwin maintained a bullish stance on Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), giving it a Buy rating without a price target.

The analyst gave a positive rating based on the company’s potential despite recent setbacks. Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) received a complete response letter from the FDA about UX111 for the treatment of Sanfilippo syndrome type A, citing concerns associated with chemistry, manufacturing, and controls (CMC).

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), however, maintains that the complications are not directly related to the quality of the product and are manageable.

The analyst also reasoned that the FDA acknowledged the supportive nature of the clinical data for UX111, which includes biomarker evidence and strong neurodevelopmental outcomes. He stated that while the FDA requested updated clinical data, the existing data package does not have issues, which is a positive sign.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) plans to promptly address the concerns put forth by the FDA and is planning resubmission and potential approval in 2026.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) develops, acquires, and commercializes novel products to treat genetic diseases. Its product portfolio includes Crysvita, Mepsevii, Dojolvi, and Evkeeza.

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Disclosure: None. This article is originally published at Insider Monkey.