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 $24. The company’s shares closed yesterday at $21.31.
Yang commented:
“We attended Nightstar’s R&D Day yesterday where management presented preliminary data from the dose escalation study of NSR-RPGR for the treatment of X-Linked Retinitis Pigmentosa. We were encouraged by early signals observed in all cohort 3 patients and 2/6 patients in cohorts 4 and 5. However, the therapeutic dose to be taken into the upcoming expansion study remains to be determined as higher dose responders required a second course of steroids to control mild sub-retinal inflammation. The next important catalyst for the shares will be 2Q19 with six-months follow-up data from the dose escalation study. We maintain our Buy rating on the stock.”
According to TipRanks.com, Yang is a top 100 analyst with an average return of 25.1% and a 55.3% 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 a Strong Buy with an average price target of $33.25, a 56.0% upside from current levels. In a report released yesterday, Chardan Capital also reiterated a Buy rating on the stock with a $40 price target.
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The company has a one-year high of $29.55 and a one-year low of $10.01. Currently, Nightstar Therapeutics Limited has an average volume of 128.5K.
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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.