Stifel Starts Orchard Therapeutics (ORTX) at Buy

Stifel analyst Dae Gon Ha initiates coverage on Orchard Therapeutics (NASDAQ: ORTX) with a Buy rating and a price target of $12.00.

The analyst comments "The list of accomplishments since the company's founding is impressive, and growing, including Libmeldy (metachromatic leukodystrophy [MLD]) approval in Europe, near-term regulatory submissions for OTL-103 (Wiskott-Aldrich Syndrome [WAS]), and robust and compelling clinical data supporting their pipeline assets. ORTX's elusive target indications (even by rare disease standards) may be perceived as high-risk with questions on market opportunity; however, the collective experience establishing strong foundations for future growth in areas of neurometabolic/neurodegenerative and immunological disorders, as well as tackling diseases where implementation of lentivirus (LV) gene therapy can be relatively seamless (i.e., stem cell or bone marrow transplant), was a prescient strategy in our view. While investor sentiment may reflect caution ahead of Libmeldy commercial launch, with numerous updates expected near-to-medium term we think investors taking a bite of ORTX today may benefit to the upside."

For an analyst ratings summary and ratings history on Orchard Therapeutics click here. For more ratings news on Orchard Therapeutics click here.

Shares of Orchard Therapeutics closed at $6.97 yesterday.

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