H.C. Wainwright analyst Debjit Chattopadhyay reiterated a Buy rating on Audentes Therapeutics (NASDAQ: BOLD) today and set a price target of $40. The company’s shares closed yesterday at $34.25.
Chattopadhyay said:
“We reiterate our Buy rating and our $40 target on shares of Audentes, which 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). We assume a launch price of $1M/patient globally, which at first blush might seem onerous but is justified by the limited number of patients (roughly 2,000 for XLMTM and approximately 1,000 for CN, globally), the debilitating and fatal nature of the disease, lack of therapeutic options.”
According to TipRanks.com, Chattopadhyay is a 1-star analyst with an average return of -0.1% and a 43.5% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Mersana Therapeutics Inc, and Voyager Therapeutics Inc.
Audentes Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $41.20, representing a 20.3% upside. In a report released today, Mizuho Securities also upgraded the stock to Buy with a $45 price target.
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The company has a one-year high of $46.18 and a one-year low of $15.74. Currently, Audentes Therapeutics has an average volume of 432.2K.
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.
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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.
