Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Nightstar Therapeutics Limited (NITE) yesterday and set a price target of $42. The company’s shares closed yesterday at $15.89.
Piros noted:
“: We are reiterating our Overweight rating and $42/share price target on Nightstar Therapeutics. This morning, Spark (N) announced a definitive agreement to be acquired by Roche (RHHBY, NC) for $4.8 billion, or $114.50/share (a 122% premium). While we believe the primary driver of the acquisition was Spark’s hemophilia A program, we have observed a trend in late- stage gene therapy company acquisitions. Given that Nightstar is one of the furthest along with a Phase 3 trial reading out next year, we believe the company deserves a seat at the table for acquisition talks and interest from pharma.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.5% and a 42.7% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Proteostasis Therapeutics Inc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nightstar Therapeutics Limited with a $28.25 average price target.
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The company has a one-year high of $29.55 and a one-year low of $9.59. Currently, Nightstar Therapeutics Limited has an average volume of 75.46K.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is negative on the stock.
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Nightstar Therapeutics PLC is a clinical-stage gene therapy company, which engages in the development and commercialization of novel one-time treatments for patients suffering from rare inherited retinal diseases. Its pipeline includes NSR-REP1, for the treatment of choroideremia; NSR-RPGR, for the treatment of X-linked retinitis pigmentosa; and NSR-BEST1, for the treatment of vitelliform macular dystrophy. The company was founded by Robert MacLaren on July 6, 2017 and is headquartered in London, the United Kingdom.
