Zacks Investment Research upgraded shares of Audentes Therapeutics (NASDAQ:BOLD) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. They currently have $40.00 price objective on the biotechnology company’s stock.
According to Zacks, “Audentes Therapeutics, Inc. is a biotechnology company which focused on developing and commercializing gene therapy products for patients suffering from serious, life-threatening rare diseases. The company’s product pipeline consists of AT132 for the treatment of X-linked myotubular myopathy; AT342 for the treatment of crigler-najjar syndrome type 1; AT307 for the treatment of the CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia and AT982 for the treatment of pompe disease, which are in pre-clinical trial stage. Audentes Therapeutics, Inc. is based in San Francisco, California. “
A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets downgraded Capital Power from an outperform rating to a market perform rating in a report on Wednesday, May 8th. Citigroup set a $221.00 price target on 3M and gave the company a buy rating in a report on Friday, April 26th. Svb Leerink boosted their price target on Audentes Therapeutics from $37.00 to $48.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Wedbush reiterated a hold rating and issued a $2.00 price target on shares of Regulus Therapeutics in a report on Tuesday, April 9th. Finally, ValuEngine downgraded Zymeworks from a buy rating to a hold rating in a report on Saturday, May 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $39.99.
Shares of NASDAQ BOLD opened at $34.29 on Wednesday. Audentes Therapeutics has a twelve month low of $17.95 and a twelve month high of $42.69. The firm has a 50 day moving average price of $37.65.
Audentes Therapeutics (NASDAQ:BOLD) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($1.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.90) by ($0.23). During the same quarter last year, the company posted ($0.74) earnings per share. On average, sell-side analysts predict that Audentes Therapeutics will post -4.43 earnings per share for the current fiscal year.
In related news, VP Suyash Prasad sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $36.98, for a total transaction of $369,800.00. Following the completion of the transaction, the vice president now owns 28,236 shares in the company, valued at approximately $1,044,167.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louis G. Lange sold 21,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $37.79, for a total value of $793,590.00. Following the transaction, the director now owns 290,001 shares of the company’s stock, valued at approximately $10,959,137.79. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc boosted its position in Audentes Therapeutics by 1,200.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,300 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 1,200 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Audentes Therapeutics during the 4th quarter worth $92,000. Great West Life Assurance Co. Can boosted its position in Audentes Therapeutics by 96.0% during the 4th quarter. Great West Life Assurance Co. Can now owns 4,726 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 2,315 shares during the period. Legal & General Group Plc boosted its position in Audentes Therapeutics by 34.5% during the 4th quarter. Legal & General Group Plc now owns 6,632 shares of the biotechnology company’s stock worth $141,000 after acquiring an additional 1,700 shares during the period. Finally, JGP Global Gestao de Recursos Ltda. acquired a new position in Audentes Therapeutics during the 1st quarter worth $264,000. Institutional investors own 98.71% of the company’s stock.
Audentes Therapeutics Company Profile
Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients living with serious, life-threatening rare diseases caused by single gene defects. The company is developing AT132, which is in Phase I/II clinical studies for the treatment of X-linked myotubular myopathy (XLMTM); AT342 that is in Phase I/II clinical studies to treat crigler-najjar syndrome; AT845, which is in preclinical studies for the treatment of pompe disease; and AT307 to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.
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