Ultragenyx FAYUVI Analyst Upgrades After Thursday Sanfilippo Type A Approval: Cantor Fitzgerald and Canaccord Genuity Move to $39 Price Targets, Citi to $32, Morgan Stanley to $20; Cantor Sees $400M Peak Commercial Opportunity
Ultragenyx Pharmaceutical (NASDAQ: RARE) received a broad wave of Friday September 18-19 sell-side analyst updates following Thursday's FDA standard full approval of FAYUVI (rebisufligene etisparvovec-hopf) as the first-ever treatment for pediatric Sanfilippo Syndrome Type A (MPS IIIA). Cantor Fitzgerald called the approval 'a much-needed win' and raised price target to $39, modeling roughly $400 million in peak commercial opportunity. Canaccord Genuity moved to $39. Citi moved to $32. Morgan Stanley maintained Equal Weight at $20. William Blair rated Market Perform, citing the approval as an incremental positive but flagging a lack of major value-inflection catalysts over the next 12 months. Analyst Sami Corwin's model at Cantor projected $325 million peak Fayuvi sales. FAYUVI shipments are expected to commence within 30-60 days. Ultragenyx confirmed retention of its Priority Review Voucher (historically worth $150-350 million on the secondary market) plus mid-single-digit to 8% royalties owed to Abeona Therapeutics (NASDAQ: ABEO) on Fayuvi net sales.