Analyst Michael Ulz of Morgan Stanley reiterated a Buy rating on Dyne Therapeutics, retaining the price target of $48.00.
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Michael Ulz has given his Buy rating due to a combination of factors surrounding Dyne Therapeutics’ recent achievements and future potential. The FDA’s granting of Breakthrough Therapy Designation for DYNE-251 underscores the significant unmet medical need in treating Duchenne muscular dystrophy (DMD), particularly for patients amenable to exon 51 skipping. This designation not only highlights the promising preliminary clinical evidence of DYNE-251 but also facilitates an expedited development and review process, which is crucial for bringing effective treatments to market more swiftly.
Moreover, the Breakthrough Therapy Designation allows Dyne Therapeutics to benefit from enhanced support from the FDA, including priority regulatory review eligibility and the potential to shorten the Biologics License Application (BLA) review timeframe. The anticipation of data from the Phase 1/2 DELIVER study by late 2025, coupled with a potential BLA submission for accelerated approval in early 2026, positions Dyne Therapeutics favorably in the biotechnology sector. These developments collectively contribute to the positive outlook and the Buy rating assigned by Michael Ulz.
In another report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $36.00 price target.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DYN in relation to earlier this year.