Cantor ups Taysha target to $7 from $2 after ‘robust’ Rett data

Cantor Fitzgerald raised the firm’s price target on Taysha Gene Therapies to $7 from $2 and keeps an Overweight rating on the shares post the Q2 report. The stock is up 110% on the first patient data for TSHA-102 in Rett syndrome and a $150M private placement, the analyst tells investors in a research note. The “robust” magnitude of the efficacy data was largely unexpected given it was in an adult patient at a low dose, which creates a “reset” on how to think about the potential of the program in these patients, says the firm. Meanwhile, the private placement removes a “massive overhang” on the stock and allows Taysha to get through multiple inflection points for its two lead gene therapies, adds Cantor.