Piper Jaffray analyst Christopher Raymond noted that Ultragenyx management had been guiding that the DTX401 dose in the first patient cohort was likely suboptimal, making expectations low, but he called the preliminary results reported for the first three patients treated "impressive." Two of three patients experienced significant increases in time to hypoglycemia at Week 12, while a biologic response was observed in patient three, Raymond points out. He expects today's update to provide further confidence and value for the company's gene therapy pipeline, which has been "seemingly underappreciated," added Raymond, who keeps an Overweight rating on Ultragenyx shares.