William Blair analyst Myles Minter has maintained their bullish stance on TRDA stock, giving a Buy rating today.
Myles Minter has given his Buy rating due to a combination of factors surrounding Entrada Therapeutics Inc’s recent developments. The FDA’s decision to lift the clinical hold on ENTR-601-44, allowing the initiation of a Phase Ib trial in adult DMD patients, marks a significant milestone. This progression is crucial as it indicates regulatory confidence in the drug’s potential, which could lead to positive outcomes in the treatment of DMD, a condition with limited therapeutic options.
Minter also considers the strategic planning behind the trial’s design, which ensures that patients will have immediate access to continuous therapy through an open-label extension. This approach minimizes treatment gaps and enhances the trial’s appeal. Additionally, the authorization of a Phase I/II study in the U.K. further supports the drug’s development trajectory, providing opportunities for dose exploration and potentially broadening its applicability. These factors collectively underpin Minter’s optimistic outlook on Entrada Therapeutics Inc’s stock.
Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Verve Therapeutics, and Entrada Therapeutics Inc. According to TipRanks, Minter has an average return of 7.1% and a 46.90% success rate on recommended stocks.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $29.00 price target.
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