Needham & Company Starts Generation Bio (GBIO) at Buy
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Needham & Company analyst Gil Blum initiates coverage on Generation Bio (NASDAQ: GBIO) with a Buy rating and a price target of $50.00.
The analyst commented, "We believe GBIO is developing a new category of gene therapy with transformative potential for the industry. Gene therapy's ability to repair the underlying genetic cause of a disease offers therapeutic options in some of the most severe indications. However, fundamental challenges abound. Our KOL survey identified gene therapy durability as a key issue with current therapeutics. Generation's platform combines two innovative technologies: close ended DNA plasmids (ceDNA) and cell targeted lipid nanoparticles (ctLNPs). The ceDNA/ctLNP platform can potentially enable re-treatment of patients thus extending the durability of therapy."
Shares of Generation Bio closed at $31.79 yesterday.
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