Audentes Therapeutics (BOLD) Earns “Buy” Rating from Mizuho
Mizuho restated their buy rating on shares of Audentes Therapeutics (NASDAQ:BOLD) in a research note issued to investors on Wednesday morning. Mizuho currently has a $45.00 price objective on the biotechnology company’s stock.
“We do not see earnings as the best indicator of value for an early-stage biotech. Importantly, progress continues to be highly encouraging on the AT-132 program. Audentes is expected to meet with the FDA and EMA in 4Q18 to discuss development plans and a potential registrational pathway for AT132. An update is expected in 1Q19, which could be an important catalyst. Two other pipeline products; in Criggler-Najjar and Pompe disease need further work (more below). Finally, a new program targeting a large neuromuscular disease remains to be disclosed, which could add upside to the shares as well.”,” the firm’s analyst commented.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Audentes Therapeutics from a hold rating to a buy rating and set a $44.00 target price on the stock in a research report on Tuesday, July 10th. BidaskClub raised shares of Audentes Therapeutics from a hold rating to a buy rating in a research report on Tuesday, September 18th. HC Wainwright set a $40.00 target price on shares of Audentes Therapeutics and gave the stock a buy rating in a research report on Wednesday, August 22nd. William Blair reissued a buy rating on shares of Audentes Therapeutics in a research report on Tuesday, August 7th. Finally, Raymond James reissued a hold rating on shares of Audentes Therapeutics in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $36.00.
Audentes Therapeutics (NASDAQ:BOLD) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.97) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.09). During the same period last year, the business earned ($0.88) EPS. On average, research analysts expect that Audentes Therapeutics will post -3.39 earnings per share for the current year.
In related news, VP Suyash Prasad sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $36.88, for a total value of $368,800.00. Following the transaction, the vice president now owns 100 shares in the company, valued at $3,688. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Louis G. Lange sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $37.38, for a total transaction of $1,233,540.00. Following the completion of the transaction, the director now owns 365,999 shares in the company, valued at approximately $13,681,042.62. The disclosure for this sale can be found here. Insiders sold 77,039 shares of company stock worth $2,925,260 in the last 90 days. 6.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in Audentes Therapeutics by 48.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 67,660 shares of the biotechnology company’s stock valued at $2,586,000 after buying an additional 22,063 shares during the period. MetLife Investment Advisors LLC raised its holdings in Audentes Therapeutics by 89.0% in the second quarter. MetLife Investment Advisors LLC now owns 14,989 shares of the biotechnology company’s stock valued at $573,000 after buying an additional 7,059 shares during the period. UBS Group AG raised its holdings in Audentes Therapeutics by 471.9% in the first quarter. UBS Group AG now owns 50,532 shares of the biotechnology company’s stock valued at $1,518,000 after buying an additional 41,696 shares during the period. BlackRock Inc. raised its holdings in Audentes Therapeutics by 25.4% in the second quarter. BlackRock Inc. now owns 2,458,171 shares of the biotechnology company’s stock valued at $93,925,000 after buying an additional 497,767 shares during the period. Finally, Partner Fund Management L.P. purchased a new position in Audentes Therapeutics in the second quarter valued at approximately $16,254,000. Hedge funds and other institutional investors own 96.75% of the company’s stock.
About Audentes Therapeutics
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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