William Blair analyst Myles Minter has reiterated 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 initiation of the Phase I/II study for ENTR-601-45, an EEV-conjugated oligonucleotide for exon 45 skipping in Duchenne muscular dystrophy (DMD), marks a significant milestone. This asset is positioned as first-in-class among next-generation exon skippers, supported by a robust preclinical dataset.
Furthermore, the strategic approach of conducting the study in the U.K. and potentially other EU sites, with plans to share results with the FDA, indicates a well-thought-out path towards potential U.S. registration. The company’s confidence in the proposed dose range being therapeutically relevant and their target for significant dystrophin production further supports the promising outlook for this asset. These factors collectively contribute to Minter’s positive outlook on the 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 5.8% and a 45.57% success rate on recommended stocks.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $23.00 price target.