RARE Stock Tanks Amid Regulatory Hurdles for UX111 Gene Therapy
RARE stock plummeted 9% on Friday after multiple Wall Street analysts slashed their price targets on Ultragenyx Pharmaceutical Inc. due to regulatory hurdles for its UX111 gene therapy.
The FDA has again refused approval for UX111 in the treatment of Sanfilippo syndrome type A, requesting additional supportive documentation from the company.
TD Cowen lowered Ultragenyx's price target to $49 from $75 and maintained a 'Buy' rating on the shares. Goldman Sachs and Baird also reduced their price targets, with Goldman lowering it to $61 from $71 and Baird cutting it to $40 from $47.
The company announced Q4 revenue of $207 million and earnings per share of $1.29, but its FY26 revenue forecast fell short of consensus estimates at $730-760 million, an 8-13% increase compared to 2025.