In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Nightstar Therapeutics Limited (NASDAQ: NITE), with a price target of $20. The company’s shares opened today at $14.40.
Yang noted:
“We see the company’s current cash position as sufficient to take the company into 2020. As a reminder, Nightstar Therapeutics is presenting at the The Association for Research in Vision and Ophthalmology (ARVO) conference from 04/29 to 05/03; see below for more details. KeyPoints Form 6-K. Nightstar filed a form 6-K on May 1, 2018. The company entered into a sublease for its new corporate headquarters in Massachussetts. The sublease became effective on April 26, 2018 and will expire in March 2021. The initial rent payment is expected to be approx. $209,000 per year and will increase by approx. 6% per year.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 21.1% and a 51.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
Nightstar Therapeutics Limited has an analyst consensus of Moderate Buy, with a price target consensus of $20.
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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 26.46K.
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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.
