Generation Bio (GBIO) PT Lowered to $38 at Jefferies After IND Submission Delay

Jefferies analyst Eun Yang lowered the price target on Generation Bio (NASDAQ: GBIO) to $38.00 (from $40.00) after the company experienced an IND submission delay for the clinical trial start for hemophilia A to 2023 (from 2022). The company is transitioning to higher efficiency & purity manufacturing process that should enhance the speed and breadth of R&D.

The analyst reiterated a Buy rating, stating "Catalysts by YE21 include singleascending dose FVIII expression data in NHP & update on its program development strategy/timelines across pipeline. We remain positive on broad applicability of GBIO's transformative non-viral gene therapy platform."

You May Also Be Interested In

• Goldman Sachs upgrades Sirius XM Radio to Buy with $37 target
• Truist Securities Reiterates Hold Rating on Advance Auto Parts (AAP)
• Bright Minds Biosciences Inc. (DRUG) PT Lowered to $37 at BTIG