Ultragenyx price target raised to $105 from $97 at Wedbush

Wedbush analyst Laura Chico raised the firm's price target on Ultragenyx to $105 from $97 and keeps an Outperform rating on the shares. The analyst notes the Q3 update was largely as anticipated with continued Crysvita execution. Chico continues to anticipate steady uptake as additional geographies come online, as well as the TIO indication. She also looks ahead to the GTX-102 update in December to better understand the Angelman syndrome candidate's efficacy profile. The Ultragenyx development pipeline "bench" remains deep and Chico sees the optionality it provides as a unique strength.