Oppenheimer analyst Andreas Argyrides lowered the firm’s price target on Dyne Therapeutics (DYN) to $11 from $13 and keeps a Perform rating on the shares following quarterly results and business update. The firm continues to see upcoming Phase 1/2 DELIVER expansion cohort data for DYNE-251/DMD in December 2025 as an important clearing event, supporting a potential BLA submission for accelerated approval in Q2 2026. In October, Novartis (NVS) announced the acquisition of competitor Avidity. While the deal broadly provided positive readthrough to antisense oligonucleotides for rare diseases, the firm sees the deal reinforcing its thesis that Dyne’s programs require further derisking on safety before assigning additional value.
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