Taysha Gene Therapies price target lowered to $6 from $20 at JMP Securities

JMP Securities analyst Silvan Tuerkcan lowered the firm’s price target on Taysha Gene Therapies to $6 from $20 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 Taysha’s key 2022 assets – TSHA-120 in GAN and TSHA-102 in Rett – represent a high unmet need and no other gene therapies are in development.