Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Entrada Therapeutics Inc (TRDA – Research Report), retaining the price target of $20.00.
Ram Selvaraju’s rating is based on the increasing prominence of exon-skipping technologies, particularly as safety concerns arise with gene therapy treatments like ELEVIDYS. The recent patient death linked to ELEVIDYS has shifted attention towards next-generation exon-skipping approaches, which Entrada Therapeutics is advancing. This shift in focus is expected to raise interest in Entrada’s portfolio as they progress through clinical trials.
Additionally, Entrada Therapeutics has received authorization to initiate a Phase 1/2 clinical study for their investigational candidate ENTR-601-45, aimed at treating Duchenne muscular dystrophy (DMD). This study, ELEVATE-45-201, will evaluate the safety and effectiveness of ENTR-601-45 in patients with a specific mutation amenable to exon 45 skipping. Furthermore, the FDA has lifted the clinical hold on another candidate, ENTR-601-44, allowing for further clinical studies. These developments suggest a positive outlook for Entrada’s pipeline, supporting the Buy rating and a 12-month price target of $20 per share.
Selvaraju covers the Healthcare sector, focusing on stocks such as Vanda, Axsome Therapeutics, and Emergent Biosolutions. According to TipRanks, Selvaraju has an average return of 1.9% and a 38.77% success rate on recommended stocks.
In another report released on March 25, Roth MKM also reiterated a Buy rating on the stock with a $23.00 price target.