Before the market open, SunTrust analyst Joon Lee raised his price target for Ultragenyx to $80 from $75 and reiterated a Buy rating after the company reported topline Cohort 3 data from the DTX301 Ph1/2 study which led to 3 out of 3 patients showing a response. Lee tells investors in a research note that the company plans to start Cohort 4 using the same 1x10^13 GC/kg dose used in cohort 3 but adding a prophylactic oral steroid regimen to possibly further boost efficacy, adding that a simple updosing can drive improved efficacy without increases in safety risk should come as a relief to many investors.