William Blair analyst Myles Minter has reiterated their bullish stance on TRDA stock, giving a Buy rating today.
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Myles Minter’s rating is based on several strategic factors that highlight the potential of Entrada Therapeutics Inc. The company is positioned to make significant advancements in the next-generation Duchenne muscular dystrophy (DMD) and myotonic dystrophy type 1 (DM1) space, with three potential clinical catalysts anticipated by 2026. The recent acquisition of Avidity by Novartis for approximately $12 billion underscores the potential value of Entrada’s DMD and DM1 franchises, suggesting a promising outlook for the company’s novel endosomal escape vehicle (EEV) platform. This platform is considered to be differentiated in terms of efficacy and safety compared to its peers in peptide-conjugate delivery.
Minter also highlights the potential of Entrada’s ENTR-601-44, which has shown promising safety results in its initial cohort and is expected to deliver best-in-class data for DMD patients. The success of this clinical trial could positively impact Entrada’s other dystrophin exon skipping assets. Despite some concerns about the accelerated approval path for exon skippers, Minter believes the FDA will remain open to next-generation skippers that demonstrate higher dystrophin expression and preliminary functional benefits. Additionally, Entrada’s future candidate designations in ocular and metabolic programs offer diversification beyond the competitive neuromuscular space, further supporting the Buy rating.
According to TipRanks, Minter is a 5-star analyst with an average return of 29.1% and a 59.85% success rate. Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Biogen, and Arcturus Therapeutics.