Chardan Capital analyst Gbola Amusa reiterated a Buy rating on Nightstar Therapeutics Limited (NITE) today and set a price target of $25.50. The company’s shares closed on Friday at $15.16.
Amusa observed:
“We now reduce our NITE price target to $25.50 to reflect the announced deal. (This is a rare time we are cutting our price target on the announcement of an acquisition.) Yesterday, in Viral News in Genetic Medicines, we opened a pair trade, going long a basket of unpartnered, quality, post- PoC, AAV-based GT companies (BOLD, the NBI. The NITE acquisition confirms our view that further business development activity is likely, with our highlighted companies of highest interest: “A theme in biotech, after news on AveXis and Spark acquisitions, is that AAV-based GT capabilities and products are in high demand by big biopharma players.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 16.9% and a 50.3% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics 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 $24.40 average price target, implying a 60.9% upside from current levels. In a report issued on February 25, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $42 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 80.14K.
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.
