Taysha Gene Therapies (TSHA) PT Lowered to $7 at Piper Sandler

Piper Sandler analyst Christopher Raymond lowered the price target on Taysha Gene Therapies (NASDAQ: TSHA) to $7.00 (from $9.00) while maintaining a Overweight rating.

The analyst commented, "Remain OW rated on TSHA shares and taking time to layer in model updates following the company’s recent financing. Of note, we had previously modeled a 27.0M share raise in Q324, so this financing – inclusive of the conversion of pre-funded warrants to common shares – is larger and slightly earlier than we expected. Despite the recent stock reaction following initial pediatric data and longer-term adolescent/adult data for TSHA-102 (see note), we believe positive high dose TSHA-102 data could drive value back into shares. With an initial update expected for the latter by year end, we think the risk/reward skews positive on this name."

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