Audentes Therapeutics (BOLD): Initiating Coverage with an Outperform Rating - Piper Jaffray
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Piper Jaffray analyst, Joshua Schimmer, initiated coverage on Audentes Therapeutics (NASDAQ: BOLD) with an Overweight rating price target of $24.
The company is capitalizing on recent wins in the gene therapy field and is
charting its own path with a differentiated strategy, focusing on orphan and ultra-orphan
diseases with a high unmet need which is uniquely suited to gene therapy. BOLD's lead
program targets X-linked myotubular myopathy (XLMTM), with robust preclinical data
indicating long-term durable correction of the phenotype with clinical data next year.
Behind XLMTM, the company has attractive programs with promising preclinical data
for Crigler-Najjar, Pompe, and Catecholaminergic polymorphic ventricular tachycardia
(CPVT). As such, we see BOLD as well-positioned in the rapidly evolving gene therapy
The $24 PT is based on a based on a DCF analysis through 2024E.
Shares of Audentes Therapeutics closed at $14.70 yesterday.
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