Analysts Lower Ultragenyx (RARE) Target but Stay Bullish

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is one of the 12 Stocks that Will Bounce Back According to Wall Street Analysts. On January 6, H.C. Wainwright reduced its price target on Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) from $80 to $60 but kept its Buy rating on the stock. The reduced price target still represents a significant upside from the current price.

This update comes after the company announced that its two pivotal trials for setrusumab in osteogenesis imperfecta (OI), Cosmic and Orbit, did not achieve statistical significance against the primary endpoints. H.C. Wainwright highlighted that while setrusumab was previously seen as an important value driver for Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE), the stock had already been trading at attractive levels before the results of these trials. This indicates that the stock price did not appear to reflect a meaningful contribution from this asset.

The research firm noted that Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is a diversified, commercial-stage company that has multiple approved products generating revenue and a pipeline of clinical-stage assets. H.C. Wainwright sees this news as “merely a bump in the road” and noted that the current stock price appears to have limited downside risk.

On January 5, Guggenheim also reduced its price target on Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) from $64 to $52 but maintained its Buy rating after the results from the Orbit and Cosmic studies. Guggenheim pointed to the upcoming Phase 3 Aspire study data in Angelman syndrome, expected in the second half of 2026. The firm said that positive results could represent a “watershed moment” for the company.

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is a biopharma company focused on developing novel therapies for serious rare and ultra-rare genetic diseases.

While we acknowledge the potential of RARE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best US Penny Stocks to Buy and 10 Best New Penny Stocks to Invest In.

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