Avidity Biosciences initiated with a Buy at Roth Capital

Roth Capital initiated coverage of Avidity Biosciences (RNA) with a Buy rating and $62 price target The company has “first mover advantages” in its three genetic medicines, Del-zota, Del-desiran and Del-brax, along with broad platform potential and a strong cash position, the analyst tells investors in a research note. Roth views Avidity as a strong takeover candidate based on its platform’s broad therapeutic potential and “de-risked nature “of all three programs.