Barclays raised the firm’s price target on Avidity Biosciences (RNA) to $59 from $57 and keeps an Overweight rating on the shares. The company’s Facioscapulohumeral muscular dystrophy update “checked the key boxes,” but stock was under pressure due to concerns of definitive accelerated approval, the analyst tells investors in a research note. The firm says that while the FDA required evidence to “reasonably predict clinical benefit,” it believes current data largely support cDUX as a good biomarker.
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