Mizuho Securities analyst Difei Yang maintained a Buy rating on Nightstar Therapeutics Limited (NASDAQ: NITE) today and set a price target of $20. The company’s shares closed yesterday at $14.28.
Yang wrote:
“We do not see earnings as a meaningful indicator of value for a development-stage biotech. More importantly, Nightstar will report preliminary data from the phase 1/2 trial of Pigmentosa (XLRP) ahead of schedule in 3Q18. Previously, the company guided for late 2018. This is the company’s second pipeline product with a larger market opportunity compared to Choroideremia (CHM), Nightstar’s lead program. As such, we expect the XLRP data readout could be an important catalyst for the shares.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 21.4% and a 54.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
Currently, the analyst consensus on Nightstar Therapeutics Limited is Moderate Buy and the average price target is $30, representing an 110.2% upside.
In a report released yesterday, Chardan Capital also maintained a Buy rating on the stock with a $40 price target.
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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 17.98K.
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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.
