Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Nightstar Therapeutics Limited (NITE) today and set a price target of $40. The company’s shares opened today at $12.01, close to its 52-week low of $9.59.
Amusa wrote:
“We understand this trial is sufficiently powered to demonstrate statistical significance, if positive results are achieved. This change comes a few months after the publication of draft guidance from the FDA on retinal GT which indicates a strong preference for inclusion of natural history data as part of overall asset development (see our 12 July 2018 research). We note the company sees this newly-designated phase II/III study as the 1st of 2 controlled trials required for registration of this asset.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 17.8% and a 46.0% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Logicbio Therapeutics Inc, and Catalyst Biosciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nightstar Therapeutics Limited with a $35.14 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 154K.
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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.