Citi analyst Geof Meacham raised the firm’s price target on Avidity Biosciences (RNA) to $75 from $70 and keeps a Buy rating on the shares. The company announced positive regulatory alignment and topline clinical data supporting the accelerated approval pathway of del-brax in Facioscapulohumeral muscular dystrophy, the analyst tells investors in a research note. The firm says that along with 12-month functional data showing a clinically meaningful response, it is encouraged by the potential for an application filing in the second half of 2026. Citi increased its probability of sucess for del-brax to 80% from 70% and remains buyers on Avidity shares on weakness.
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