Cantor Fitzgerald analyst Eric Schmidt initiated coverage of Avidity Biosciences with an Overweight rating and $60 price target. Avidity has a strong management team, a proven platform, a robust pipeline, and what appears to be a blockbuster product in del-desiran for myotonic dystrophy type 1, making up “the complete package,” the analyst tells investors in a research note. The firm does not anticipate delays from a partial FDA clinical hold on the HARBOR trial stemming a prior safety observation and expects enrollment to be brisk.
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