Needham analyst Joseph Stringer has maintained their bullish stance on RNA stock, giving a Buy rating today.
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Joseph Stringer has given his Buy rating due to a combination of factors that highlight Avidity Biosciences’ promising future. The company has reported its second-quarter financial results for 2025, confirming the timelines for key events and milestones in its pipeline programs, which include DM1, DMD44, and FSHD. These programs are expected to have significant data readouts in the near term, with topline and functional data from the DMD44 OLE anticipated in the fourth quarter of 2025, updated data from the DM1 OLE also in the fourth quarter of 2025, and pivotal topline data from the Phase 3 DM1 trial expected in the second quarter of 2026.
Moreover, Avidity Biosciences’ financial position appears robust, with a cash balance of $1.2 billion as of the second quarter of 2025, which is projected to support operations into mid-2027. This financial stability, combined with the upcoming data readouts, suggests a strong potential for growth and development, justifying the Buy rating. Stringer’s analysis indicates confidence in the company’s ability to meet its strategic objectives and deliver value to shareholders.
In another report released today, Barclays also maintained a Buy rating on the stock with a $62.00 price target.