Audentes Therapeutics Receives a Hold from Raymond James

By Carrie Williams

Raymond James analyst Reni Benjamin maintained a Hold rating on Audentes Therapeutics (NASDAQ: BOLD) today. The company’s shares opened today at $34.64.

Benjamin commented:

“We are maintaining our Market Perform rating on BOLD. Therapy (ASGCT) annual meeting, the company provided an update on the ongoing Phase I/II ASPIRO study of AT132 for X-linked myotubular myopathy (XLMTM). By comparing the results of the ASPIRO study and those of the INCEPTUS trial, in our opinion, the totality of the updated data continues to suggest that AT132 provides a significant benefit to patients suffering with XLMTM, which may lead to an accelerated regulatory pathway. That said, we remain cautiously optimistic about the commercial prospect of this product given rare nature of the disease being pursued.”

According to TipRanks.com, Benjamin is a 4-star analyst with an average return of 4.7% and a 45.3% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Invivo Therapeutics Holdings, Adaptimmune Therapeutics, and Voyager Therapeutics Inc.

Currently, the analyst consensus on Audentes Therapeutics is Moderate Buy and the average price target is $36, representing a 3.9% upside.

In a report issued on May 10, Mizuho Securities also maintained a Hold rating on the stock with a $26 price target.

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Based on Audentes Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $25.57 million. In comparison, last year the company had a GAAP net loss of $18.12 million.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock.

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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.