Ultragenyx Pharmaceutical Inc. (RARE) TD Cowen 46th Annual Health Care Conference March 2, 2026 1:50 PM EST
Company Participants
Eric Crombez – Chief Medical Officer & Executive VP
Conference Call Participants
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Yaron Werber – TD Cowen, Research Division
Presentation
Yaron Werber TD Cowen, Research Division
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Okay. Well, good afternoon, everybody, and welcome once again to the 46th Annual TD Cowen Healthcare Conference. I’m Yaron Werber from the biotech team, and it’s a great pleasure to introduce and have with us today, Eric Crombez, who’s Chief Medical Officer and EVP at Ultragenyx.
Eric, good to see you. Thanks for coming.
Eric Crombez Chief Medical Officer & Executive VP
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Thank you.
Question-and-Answer Session
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Yaron Werber TD Cowen, Research Division
So lots going on in — maybe we’ll start with Angelman syndrome. That’s going to be the next, I think, one of the big catalysts in the second half, maybe even Q3, the way we’re kind of calculating and trying to back into a more fine-tuned timing. The Aspire study is about 130 patients, 4- to 17-year-old with a deletion. That’s about 70% of patients fall into that, Randomized 1:1 versus sham. The primary endpoint is cognition based on the Bayley IV. You obviously also have a Tandem study, the Aurora study, which we’ll get into that in a second. When you’re kind of thinking about powering for a benefit, what’s considered clinically meaningful for cognition?
Eric Crombez Chief Medical Officer & Executive VP
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Yes. So I think, obviously, interconnected, but a little bit different. So I think the best way to think about clinically significant and for Angelman with our conversation with the FDA, we’ve shifted to MSD, Meaningful Score Difference. So when we’re setting that threshold, and we specifically needed to do that as part of our MDRI, which is a second primary endpoint for us and set that MSD, your clinical
Technical signals suggest the recent rebound on Dalal Street is gathering traction, but conviction remains key. Analysts broadly see the market attempting to transition from a corrective phase to a more durable uptrend, supported by improving momentum and selective buying interest. However, they caution that the move is still at a critical juncture, with resistance zones likely to test the strength of the recovery.
ROHAN SHAH TECHNICAL ANALYST, ASIT C MEHTA INVESTMENT
Where is Nifty headed this week? Nifty staged a strong comeback this month after a prolonged four-month decline, supported by easing geopolitical tensions and lower crude prices. The index has approached a resistance band of 24,300–24,700, which aligns with multiple technical studies. However, sustained strength above this zone is essential for the continuation of the upward momentum, potentially paving the way toward 25,500. Inability to hold above this zone may trigger profit booking, dragging the index lower towards 23,500–23,200. Trading Strategy: Buy Nifty futures above 24,700 for an upside target of 25,500, maintaining a stop-loss below 24,250.
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TOP STOCK BETS Jubilant FoodWorks Buy at CMP Rs 459 | Stop-loss Rs 420 | Target Rs 525 The stock shows early reversal signs, backed by one-year high volumes and a high-wave candle near a demand zone, indicating selling exhaustion. The Rs 420–440 zone is key support; RSI shows bullish divergence. Maruti Suzuki India Buy at CMP Rs 13,453 | Stop-loss Rs 12,500 | Target Rs 15,500
The stock has witnessed a strong rebound after confirming a bullish ABCD harmonic pattern. The formation of a cup-and-handle pattern alongside improving volumes signals accumulation. RSI holding above its breakout level suggests a positive bias.
Where is Nifty headed this week? Nifty is now approaching key moving averages (100 and 200 DEMA) in the 24,600– 24,800 zone. Sustained strength above this band could open room for further upside towards 25,200. In case of profit booking or consolidation, the 23,700–24,000 zone is likely to provide strong support.
Trading Strategies: For the short term, traders may consider a “buy on dip” approach in the 24,150–24,250 range, with a stop-loss at 23,900 and potential targets of 24,800 and 25,200. Among sectoral themes, the Nifty Energy Index has witnessed a fresh breakout after spending more than one-anda-half years in a consolidation phase. Participants can consider playing this theme through an ETF, i.e., Mirae Asset Nifty Energy ETF. It is currently trading at Rs 39.11, and one can accumulate it in the Rs 37–40 zone with a stoploss at Rs 34 for a positional target of Rs 52.
TOP STOCK BETS Federal Bank Buy. CMP Rs 293 | Stop-loss Rs 278 | Target Rs 325
Federal Bank is in a steady uptrend with higher highs and lows post-base formation. A strong breakout near the 200-DMA signals a sentiment shift; price holds above key averages, with RSI supporting continuation.
JSW Energy is in a stage-2 uptrend, consolidating after a strong rally. The range-bound move near the 200-DMA suggests a healthy pause, with price now attempting an upward breakout supported by improving momentum.
RAJESH PALVIYA HEAD OF TECHNICAL AND DERIVATIVES, AXIS SECURITIES
Where is Nifty headed this week? Nifty is fast approaching 24,415—the upper boundary of the bearish gap etched on March 9. A conviction close above 24,500, however, could open the floodgates. The next logical pit stops are 24,762— the 61.8% Fibonacci retracement of the Feb March decline—and the psychologically significant 25,000 mark. A slip below the 24,000–23,900 support band would be a warning shot, potentially dragging the index back to retest its weekly low of 23,555. Traders on the long side would do well to respect this floor. The overall outlook remains positive, as the weekly RSI continues to stay above its reference line. This indicates that positive momentum is still intact and not yet exhausted.
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Trading Strategies: The recommended strategy for Nifty options for the April 28, 2026, expiry is a call spread, ideal for a moderately bullish market outlook. The trader buys one lot of the 24,400-strike Call option at a premium of Rs 260–240 and simultaneously sells one lot of the 24,700-strike Call option at a premium of Rs 130–150. This strategy limits both risk and reward, creating a defined range for outcomes. The break-even point is at 24,530, with a maximum potential loss of Rs 8,450 and a maximum profit of Rs 11,050.
TOP STOCK BETS Mazagon Dock Shipbuilders Buy at Rs 2,618, CMP Rs 2,620| Stop-loss Rs 2,550 | Target Rs 2,800-2,850
A breakout above Rs 2,430 signals a shift to a primary uptrend, with RSI strength confirming bullish momentum. Resistance lies at Rs 2,800–2,850; sustained strength could extend gains to Rs 3,000–3,050.
Polycab India Buy at Rs 8,184, CMP Rs 8,188.50 | Stop-loss Rs 7,900 | Target Rs 8,600-8,900
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An uptrend supported by a rising trendline and a doublebottom near Rs 6,650 underpins strength. Resistance at Rs 8,700; a breakout could target Rs 9,000+. Maintain Rs 7,600 as a stop-loss; below this, risks a breakdown.
Stone Fox Capital is an RIA from Oklahoma. Mark Holder is a CPA with degrees in Accounting and Finance. He is also Series 65 licensed and has 30 years of investing experience, including 15 years as a portfolio manager. Mark leads the investing group Out Fox The Street where he shares stock picks and deep research to help readers uncover potential multibaggers while managing portfolio risk via diversification. Features include various model portfolios, stock picks with identifiable catalysts, daily updates, real-time alerts, and access to community chat and direct chat with Mark for questions. Learn more.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling any stock, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.
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