Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Nightstar Therapeutics Limited (NASDAQ: NITE) today and set a price target of $40. The company’s shares opened today at $17.10.
Amusa noted:
“We previously highlighted this presentation as an important catalyst that supports our high-conviction Buy rating for NITE. In particular, we note the stepped-up timing of the data from 4Q18 to 3Q18. We also note, as further positive signals, that this presentation, on phase I/II data, has been chosen for a main session (Main Session 8) and that the data are on an open- label study to which management is unmasked. Given the competition in AAV-based GT for XLRP [both AGTC (Buy) and MeiraGTx (unrated) have phase I/II trials ongoing], Nightstar’s presentation could be an important positive for the XLRP GT and ophthalmology GT landscapes. We continue to express our high conviction on this name through this presentation and beyond, based partially on the upside optionality provided by NSR-RPGR which we feel is currently under-appreciated by the market.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 23.8% and a 51.7% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.
Nightstar Therapeutics Limited has an analyst consensus of Moderate Buy, with a price target consensus of $30.
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The company has a one-year high of $24.94 and a one-year low of $10.01. Currently, Nightstar Therapeutics Limited has an average volume of 91.73K.
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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.
