Needham analyst Joseph Stringer maintained a Buy rating on Avidity Biosciences (RNA – Research Report) today and set a price target of $60.00.
Joseph Stringer has given his Buy rating due to a combination of factors including the upcoming updates in Avidity Biosciences’ pipeline programs. The company is set to release significant data readouts this quarter, particularly in its Facioscapulohumeral Muscular Dystrophy (FSHD) program, which could potentially drive the stock’s performance.
Additionally, Avidity Biosciences has reiterated its timelines for key catalysts and events across its programs, suggesting a well-structured and promising development pipeline. The company’s strong cash position, reported at $1.4 billion for the first quarter of 2025, further supports its ability to advance these programs without immediate financial constraints.
In another report released today, Barclays also maintained a Buy rating on the stock with a $57.00 price target.