Audentes Therapeutics (BOLD) Stock Rating Reaffirmed by Mizuho

Share on StockTwits

Audentes Therapeutics (NASDAQ:BOLD)‘s stock had its “buy” rating reaffirmed by equities research analysts at Mizuho in a note issued to investors on Wednesday. They currently have a $45.00 target price on the biotechnology company’s stock. Mizuho’s price objective would indicate a potential upside of 52.23% from the stock’s current price.

The analysts wrote, “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.””

Several other research firms have also recently weighed in on BOLD. BidaskClub upgraded Audentes Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. Zacks Investment Research upgraded Audentes Therapeutics from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, July 10th. HC Wainwright set a $40.00 price objective on Audentes Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Cowen began coverage on Audentes Therapeutics in a research report on Friday, September 7th. They set a “sell” rating and a $20.00 price objective on the stock. Finally, B. Riley began coverage on Audentes Therapeutics in a research report on Friday, September 7th. They set a “sell” rating and a $20.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Audentes Therapeutics presently has an average rating of “Hold” and a consensus price target of $35.90.

Shares of Audentes Therapeutics stock opened at $29.56 on Wednesday. Audentes Therapeutics has a 1 year low of $24.51 and a 1 year high of $46.18. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -8.69 and a beta of 1.99.

Audentes Therapeutics (NASDAQ:BOLD) last posted its quarterly earnings data on Tuesday, November 6th. The biotechnology company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.09). During the same period in the previous year, the company posted ($0.88) earnings per share. Equities research analysts expect that Audentes Therapeutics will post -3.31 earnings per share for the current fiscal year.

In related news, CEO Matthew R. Patterson sold 21,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $38.16, for a total value of $801,360.00. Following the transaction, the chief executive officer now owns 17,144 shares in the company, valued at $654,215.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew R. Patterson sold 12,952 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $40.00, for a total value of $518,080.00. Following the completion of the transaction, the chief executive officer now owns 12,952 shares in the company, valued at approximately $518,080. 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 owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of 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 worth $2,586,000 after purchasing an additional 22,063 shares during the period. MetLife Investment Advisors LLC increased its position in shares of Audentes Therapeutics by 89.0% in the second quarter. MetLife Investment Advisors LLC now owns 14,989 shares of the biotechnology company’s stock worth $573,000 after purchasing an additional 7,059 shares during the period. UBS Group AG increased its position in shares of Audentes Therapeutics by 471.9% in the first quarter. UBS Group AG now owns 50,532 shares of the biotechnology company’s stock worth $1,518,000 after purchasing an additional 41,696 shares during the period. BlackRock Inc. increased its position in shares of Audentes Therapeutics by 25.4% in the second quarter. BlackRock Inc. now owns 2,458,171 shares of the biotechnology company’s stock worth $93,925,000 after purchasing an additional 497,767 shares during the period. Finally, Partner Fund Management L.P. bought a new position in shares of Audentes Therapeutics in the second quarter worth $16,254,000. Institutional investors own 96.75% of the company’s stock.

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.

Featured Article: Trading Strategy Methods and Types

Analyst Recommendations for Audentes Therapeutics (NASDAQ:BOLD)

Receive News & Ratings for Audentes Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Audentes Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply