Mizuho reiterated their buy rating on shares of Audentes Therapeutics (NASDAQ:BOLD) in a report issued on Wednesday morning. Mizuho currently has a $45.00 price objective on the biotechnology company’s stock.
“We do not see earnings as the best indicator of value for an early-stage biotech. Importantly, progress continues to be highly encouraging on the AT-132 program. Audentes is expected to meet with the FDA and EMA in 4Q18 to discuss development plans and a potential registrational pathway for AT132. An update is expected in 1Q19, which could be an important catalyst. Two other pipeline products; in Criggler-Najjar and Pompe disease need further work (more below). Finally, a new program targeting a large neuromuscular disease remains to be disclosed, which could add upside to the shares as well.”,” the firm’s analyst wrote.
BOLD has been the subject of a number of other research reports. Guggenheim initiated coverage on shares of Audentes Therapeutics in a report on Tuesday, October 9th. They issued a neutral rating for the company. HC Wainwright set a $40.00 price target on shares of Audentes Therapeutics and gave the company a buy rating in a report on Wednesday, August 22nd. Zacks Investment Research upgraded shares of Audentes Therapeutics from a hold rating to a buy rating and set a $44.00 price target for the company in a report on Tuesday, July 10th. BidaskClub downgraded shares of Audentes Therapeutics from a hold rating to a sell rating in a report on Wednesday, August 1st. Finally, Wedbush reiterated an outperform rating and issued a $49.00 price target on shares of Audentes Therapeutics in a report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Audentes Therapeutics currently has an average rating of Hold and an average target price of $36.00.
Audentes Therapeutics (NASDAQ:BOLD) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.88) by ($0.09). During the same quarter last year, the firm posted ($0.88) EPS. As a group, equities analysts forecast that Audentes Therapeutics will post -3.39 EPS for the current fiscal year.
In related news, CEO Matthew R. Patterson sold 12,952 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $518,080.00. Following the sale, the chief executive officer now directly owns 12,952 shares of the company’s stock, valued at approximately $518,080. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Suyash Prasad sold 10,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $36.88, for a total transaction of $368,800.00. Following the completion of the sale, the vice president now directly owns 100 shares in the company, valued at $3,688. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,039 shares of company stock worth $2,925,260. 6.60% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. grew its stake in Audentes Therapeutics by 48.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 67,660 shares of the biotechnology company’s stock valued at $2,586,000 after acquiring an additional 22,063 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in Audentes Therapeutics by 89.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 14,989 shares of the biotechnology company’s stock valued at $573,000 after acquiring an additional 7,059 shares during the last quarter. UBS Group AG grew its stake in Audentes Therapeutics by 471.9% in the 1st quarter. UBS Group AG now owns 50,532 shares of the biotechnology company’s stock valued at $1,518,000 after acquiring an additional 41,696 shares during the last quarter. BlackRock Inc. grew its stake in Audentes Therapeutics by 25.4% in the 2nd quarter. BlackRock Inc. now owns 2,458,171 shares of the biotechnology company’s stock valued at $93,925,000 after acquiring an additional 497,767 shares during the last quarter. Finally, Partner Fund Management L.P. acquired a new stake in Audentes Therapeutics in the 2nd quarter valued at about $16,254,000. 96.75% of the stock is currently owned by hedge funds and other institutional investors.
Audentes Therapeutics Company Profile
Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients suffering from 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; AT982, which is in preclinical studies for the treatment of pompe disease; and AT307 that is in preclinical studies to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.
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