Generation Bio price target lowered to $7 from $11 at JMP Securities

JMP Securities analyst Silvan Tuerkcan lowered the firm’s price target on Generation Bio to $7 from $11 but keeps an Outperform rating on the shares as part of a broader research note on select Biotechnology names updating his valuation models. SMID-cap companies, particularly with less cash runway, are finally urgently focusing their pipelines and operations on key assets, but while this is a positive longer-term, workforce reductions are "unfortunately accelerating", the analyst tells investors in a research note. Tuerkcan adds however that views Generation Bio as "unique" within public gene therapy companies, delivering a unique opportunity by blending advantages of gene and RNA drug therapy.