Analyst Gil Blum of Needham maintained a Buy rating on Taysha Gene Therapies, retaining the price target of $10.00.
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Gil Blum has given his Buy rating due to a combination of factors surrounding Taysha Gene Therapies. The recent announcement that Taysha regained full rights to TSHA-102 after Astellas opted not to exercise its option is seen as a strategic advantage. This decision by Astellas aligns with their focus on later-stage programs in other areas, and not due to any issues with TSHA-102’s clinical performance, which has shown promising results and received Breakthrough Therapy Designation from the FDA.
Regaining full ownership allows Taysha to have greater strategic flexibility as they prepare to initiate pivotal studies for TSHA-102. Additionally, the stock has seen significant appreciation recently, indicating a higher potential valuation in the event of a takeover. These factors contribute to the positive outlook and the maintenance of a $10 target price, supporting the Buy recommendation.
In another report released on October 13, Citizens JMP also reiterated a Buy rating on the stock with a $6.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TSHA in relation to earlier this year.