Ultragenyx Pharmaceutical's Valuation: Is $35.31 a Steal After 21% Surge?

Ultragenyx Pharmaceutical's shares have surged 21% in the past month, following a challenging year with a 33.5% total shareholder return decline. The company's strong momentum is driven by accelerating global identification and diagnosis of rare diseases, supported by advancements in genomics and genetic testing. This is expected to drive sustained long-term revenue growth and pricing power. The widely followed narrative points to a much higher fair value than the recent price, suggesting the market may be heavily discounting the company's future prospects.