Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Entrada Therapeutics Inc (TRDA – Research Report) and keeping the price target at $20.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors including recent regulatory approvals and the strategic positioning of Entrada Therapeutics in the exon-skipping therapeutics market. The company has received European authorization to initiate a Phase 1/2 clinical trial for their ENTR-601-45 program, which targets Duchenne muscular dystrophy (DMD) patients amenable to exon 45 skipping. This trial is set to explore the safety and efficacy of the treatment, with potential for long-term study extensions.
Additionally, Entrada’s broad pipeline in DMD treatments positions it as a potential leader in the exon-skipping therapeutic space, especially given recent safety concerns surrounding gene therapy options. The valuation of Entrada is supported by a discounted cash flow analysis, projecting a significant enterprise value, and the company is poised for growth with plans for further regulatory submissions. However, risks such as clinical trial outcomes and partnership dynamics remain considerations for investors.
In another report released on May 30, Roth MKM also reiterated a Buy rating on the stock with a $21.00 price target.