Zacks Investment Research upgraded shares of Audentes Therapeutics (NASDAQ:BOLD) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $40.00 price objective on the biotechnology company’s stock.
According to Zacks, “Audentes Therapeutics, Inc. is a biotechnology company which focused on developing and commercializing gene therapy products for patients suffering from serious, life-threatening rare diseases. The company’s product pipeline consists of AT132 for the treatment of X-linked myotubular myopathy; AT342 for the treatment of crigler-najjar syndrome type 1; AT307 for the treatment of the CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia and AT982 for the treatment of pompe disease, which are in pre-clinical trial stage. Audentes Therapeutics, Inc. is based in San Francisco, California. “
A number of other research firms have also commented on BOLD. Leerink Swann reaffirmed an outperform rating and set a $48.00 price objective (up previously from $37.00) on shares of Audentes Therapeutics in a research note on Wednesday, April 17th. Citigroup set a $221.00 price objective on 3M and gave the company a buy rating in a research note on Friday, April 26th. HC Wainwright set a $31.00 price objective on Kura Oncology and gave the company a buy rating in a research note on Wednesday, May 8th. ValuEngine lowered Zymeworks from a buy rating to a hold rating in a research note on Saturday, May 18th. Finally, BMO Capital Markets lowered Capital Power from an outperform rating to a market perform rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $39.99.
BOLD opened at $34.29 on Wednesday. Audentes Therapeutics has a 52 week low of $17.95 and a 52 week high of $42.69. The firm’s fifty day moving average is $37.65.
Audentes Therapeutics (NASDAQ:BOLD) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.23). During the same quarter last year, the business earned ($0.74) earnings per share. Research analysts expect that Audentes Therapeutics will post -4.43 EPS for the current year.
In other Audentes Therapeutics news, Director Louis G. Lange sold 21,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $37.79, for a total value of $793,590.00. Following the sale, the director now directly owns 290,001 shares of the company’s stock, valued at approximately $10,959,137.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Suyash Prasad sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $36.98, for a total value of $369,800.00. Following the completion of the sale, the vice president now directly owns 28,236 shares in the company, valued at $1,044,167.28. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. Xact Kapitalforvaltning AB acquired a new stake in Audentes Therapeutics in the 2nd quarter worth about $356,000. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Audentes Therapeutics by 913.5% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,619,831 shares of the biotechnology company’s stock valued at $63,206,000 after purchasing an additional 1,459,999 shares in the last quarter. Redmile Group LLC lifted its stake in shares of Audentes Therapeutics by 18.8% in the 1st quarter. Redmile Group LLC now owns 2,735,267 shares of the biotechnology company’s stock valued at $106,730,000 after purchasing an additional 433,600 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Audentes Therapeutics in the 1st quarter valued at about $4,584,000. Finally, Marshall Wace LLP lifted its stake in shares of Audentes Therapeutics by 326.5% in the 1st quarter. Marshall Wace LLP now owns 90,051 shares of the biotechnology company’s stock valued at $3,514,000 after purchasing an additional 68,937 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.
About Audentes Therapeutics
Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients living with serious, life-threatening rare 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; AT845, which is in preclinical studies for the treatment of pompe disease; and AT307 to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.
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