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Nightstar Therapeutics Limited Receives a Buy from Chardan Capital


In a report released today, Gbola Amusa from Chardan Capital maintained a Buy rating on Nightstar Therapeutics Limited (NASDAQ: NITE), with a price target of $40. The company’s shares closed yesterday at $14.06.

Amusa commented:

“We have found BTD to be a strong indicator a product has the potential to address unmet medical needs and thereby generate alpha for shareholders. We note that AVXS-101 from AveXis [now Novartis (Buy)] had BTD which allowed for discussions with regulators regarding filing on phase I/II data. We have high conviction on our NITE Buy rating: Nightstar has regulatory support on its key indication (choroideremia), plus nearing data readouts on an upside option (XLRP). Although data from the pivotal phase III STAR study of RMAT-designated NSR-REP1 (NCT03496012) are not due until 2020, the company reported last week that data from the phase I/II XIRIUS study (NCT03116113) of its X-linked retinitis pigmentosa (XLRP) GT, NSR-RPGR, will be presented in 3Q18 (up from end-2018; see our research).”

According to TipRanks.com, Amusa is a 5-star analyst with an average return of 24.7% and a 53.1% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Applied Genetic Technologies.

Currently, the analyst consensus on Nightstar Therapeutics Limited is Moderate Buy and the average price target is $30, representing an 113.4% upside.

In a report issued on June 7, Mizuho Securities also maintained a Buy rating on the stock with a $20 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 19.99K.

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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.