Raymond James upgraded Dyne Therapeutics (DYN) to Strong Buy from Outperform with a price target of $27, up from $16. The firm cites proximity to DM1 data for DYNE-101, which is expected to be positive, and the substantial valuation gap with Avidity (RNA), which should serve as a tailwind in 2023, for the upgrade, the analyst tells investors in a research note. DM1 is, at peak, a ~$9B revenue opportunity, which Dyne and Avidity will compete for, the firm says.
Published first on TheFly
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