Analyst Joseph Stringer from Needham maintained a Buy rating on Avidity Biosciences (RNA – Research Report) and keeping the price target at $60.00.
Joseph Stringer has given his Buy rating due to a combination of factors including the promising new data from Avidity Biosciences’ EXPLORE44 trial. The trial results demonstrated consistent improvements in key biomarkers such as exon skipping, dystrophin production, and creatinine kinase levels in patients with Duchenne Muscular Dystrophy.
Furthermore, the data highlighted a favorable safety and tolerability profile for del-zota, reinforcing positive findings from earlier studies. With the company on track to submit a Biologics License Application by the end of 2025, these developments suggest a strong potential for future growth, supporting the Buy recommendation.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $72.00 price target.