As previously reported, BofA initiated coverage of Avidity Biosciences with a Buy rating and $40 price target. Recent long-term data from the MARINA extension trial has helped to lift an overhang on the stock and sets the stage for multiple catalysts coming this year, the analyst tells investors. The firm estimates peak risk-adjusted sales of $2.3B by 2033, assuming industry odds of success rates and “moderate” market penetration, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RNA:
- Avidity Biosciences files to sell 24.26M shares of common stock for holders
- Avidity Biosciences initiated with an Overweight at Cantor Fitzgerald
- Dyne Therapeutics price target raised to $37 from $33 at Guggenheim
- Avidity Biosciences price target raised to $33 from $23 at Chardan
- Avidity Biosciences Reveals Promising Trial Results and Phase 3 Plans