In a report released today, Gil Blum from Needham maintained a Buy rating on Generation Bio (GBIO – Research Report), with a price target of $8.00.
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Gil Blum has given his Buy rating due to a combination of factors that highlight Generation Bio’s strategic focus and potential in the biotechnology sector. The company is prioritizing the development of in vivo siRNA therapeutics aimed at T-cell driven autoimmune disorders, which could set them apart from competitors whose products mainly target the liver. This focus on extra-hepatic delivery could be a significant differentiator in the market.
Additionally, Generation Bio has demonstrated the capability to deliver mRNA directly into T-cells using ctLNPs in non-human primates and mice, showcasing their innovative approach. The anticipation of nominating a lead candidate and indication by mid-2025 further strengthens the company’s outlook. With a solid financial position, ending the year with $185 million and maintaining a cash runway into 2024, the company is well-positioned to advance its pipeline. These factors collectively support the Buy rating and the $8 price target set by Needham & Company.