In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on Audentes Therapeutics (NASDAQ: BOLD), with a price target of $40. The company’s shares opened today at $32.86.
Chattopadhyay wrote:
“Our Buy rating and $40 price target on shares of Audentes is based on sum-of-the-parts analysis of the company’s pipeline. We value the XLMTM commercial opportunity at $21/share, and CN at $19/share, each of which are based on a 5x P/ S multiple on peak sales of roughly $579M (XLMTM peak sales of about $300M and CN peak sales of approximately $279M in FY2025), discounted at 10% over an 8-year period. Our 5x P/S multiple is below the lower end of historic M&A within the sector (typically in the range of 7-9x).”
According to TipRanks.com, Chattopadhyay is a 2-star analyst with an average return of 0.7% and a 43.6% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.
Currently, the analyst consensus on Audentes Therapeutics is a Moderate Buy with an average price target of $40, implying a 21.7% upside from current levels. In a report issued on August 8, Mizuho Securities also upgraded the stock to Buy with a $45 price target.
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Based on Audentes Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $31.37 million. In comparison, last year the company had a GAAP net loss of $22.74 million.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BOLD in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Audentes Therapeutics, Inc. is a biotechnology company, which engages on development and commercialization of gene therapy products for patients with serious and rare diseases caused by single gene defects. Its products include AT001 for the treatment of X-Linked Myotubular Myopathy, AT002 for the treatment of Pompe disease, and AT003 for the treatment of Catecholaminergic Polymorphic Ventricular Tachycardia. The company was founded by Matthew R. Patterson and Thomas J. Schuetz on November 13, 2012 and is headquartered in San Francisco, CA.
