Analyst Gil Blum of Needham maintained a Buy rating on Taysha Gene Therapies, retaining the price target of $10.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Gil Blum has given his Buy rating due to a combination of factors related to Taysha Gene Therapies’ progress and strategic approach. The company is advancing in its REVEAL study for Rett syndrome, with plans to dose the first patient in Part B of the pivotal trial this quarter. This phase is crucial as it involves enrolling and dosing 15 patients, which could be completed in 3 to 6 months, potentially leading to an interim readout by late next year.
Additionally, Taysha has addressed regulatory concerns effectively, as demonstrated by their Breakthrough Therapy Designation (BTD). This designation suggests that the company has taken significant steps to mitigate regulatory risks. The possibility of faster-than-expected enrollment and dosing in Part B could further enhance the stock’s value, contributing to the Buy rating.
In another report released on October 20, Raymond James also initiated coverage with a Buy rating on the stock with a $13.00 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.