HC Wainwright reaffirmed their buy rating on shares of Audentes Therapeutics (NASDAQ:BOLD) in a report published on Monday, The Fly reports. They currently have a $44.00 price objective on the biotechnology company’s stock, up from their prior price objective of $33.00.
“Our $44 (raised from $33) price target on shares of Audentes is based on a 12-year DCF-based, sum-of-the-parts analysis, which includes AT132 being developed for XLMTM and AT845, that is being advanced as a one-and-done approach for Pompe disease. Note, our prior $33 target, did not reflect AT-845. Our DCF is driven by a: beta of 1.25, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 9.0%, and tax rate of 15% beginning in FY 2028.”,” HC Wainwright’s analyst wrote.
BOLD has been the topic of several other reports. William Blair restated a hold rating on shares of Audentes Therapeutics in a report on Wednesday, February 27th. Zacks Investment Research raised shares of Audentes Therapeutics from a hold rating to a buy rating and set a $28.00 price objective on the stock in a research report on Tuesday, January 8th. BidaskClub raised shares of Audentes Therapeutics from a hold rating to a buy rating in a research report on Saturday, January 5th. ValuEngine raised shares of Audentes Therapeutics from a hold rating to a buy rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Audentes Therapeutics in a research report on Monday, November 26th. They issued an overweight rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $34.49.
Audentes Therapeutics stock opened at $39.54 on Monday. Audentes Therapeutics has a fifty-two week low of $17.95 and a fifty-two week high of $46.18. The stock has a market cap of $1.64 billion, a P/E ratio of -11.63 and a beta of 1.90.
Audentes Therapeutics (NASDAQ:BOLD) last released its quarterly earnings results on Wednesday, February 27th. The biotechnology company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.07. During the same quarter in the previous year, the firm earned ($0.82) EPS. As a group, analysts predict that Audentes Therapeutics will post -3.85 EPS for the current year.
In other Audentes Therapeutics news, Director Louis G. Lange sold 32,000 shares of Audentes Therapeutics stock in a transaction dated Monday, December 24th. The shares were sold at an average price of $18.62, for a total value of $595,840.00. Following the sale, the director now owns 325,799 shares of the company’s stock, valued at $6,066,377.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Suyash Prasad sold 10,000 shares of Audentes Therapeutics stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $30.06, for a total transaction of $300,600.00. Following the completion of the sale, the vice president now directly owns 28,236 shares in the company, valued at approximately $848,774.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,000 shares of company stock worth $1,526,440. Insiders own 6.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BOLD. Great Point Partners LLC bought a new stake in shares of Audentes Therapeutics in the fourth quarter valued at approximately $35,346,000. Partner Fund Management L.P. raised its position in shares of Audentes Therapeutics by 94.4% in the fourth quarter. Partner Fund Management L.P. now owns 3,021,259 shares of the biotechnology company’s stock valued at $64,413,000 after purchasing an additional 1,467,120 shares during the period. BB Biotech AG bought a new stake in shares of Audentes Therapeutics in the fourth quarter valued at approximately $16,404,000. Millennium Management LLC bought a new stake in shares of Audentes Therapeutics in the fourth quarter valued at approximately $12,600,000. Finally, BlackRock Inc. raised its position in shares of Audentes Therapeutics by 15.8% in the fourth quarter. BlackRock Inc. now owns 2,974,591 shares of the biotechnology company’s stock valued at $63,418,000 after purchasing an additional 406,605 shares during the period.
Audentes Therapeutics Company Profile
Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients suffering from diseases caused by single gene defects. The company is developing AT132, which is in Phase I/II clinical studies for the treatment of X-linked myotubular myopathy (XLMTM); AT342 that is in Phase I/II clinical studies to treat crigler-najjar syndrome; AT982, which is in preclinical studies for the treatment of pompe disease; and AT307 that is in preclinical studies to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.
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