Analysts appreciated the AVROBIO Gaucher Day
2022.12.08 12:25
[ad_1]
Analysts appreciated the AVROBIO Gaucher Day
Budrigannews.com – AVROBIO Inc (NASDAQ:) on Thursday held its virtual Gaucher Day event, to mostly positive feedback from analysts.
Following the occurrence, analysts at Mizuho maintained a Buy rating for the stock and a $6 per share price target, stating that Gaucher Day “didn’t disappoint.”
“In general, what we heard was positive and in line with our expectations.” The analysts wrote, “AVROBIO even threw in a surprise by presenting promising data from a named Gaucher disease type 3 (GD3) patient.” AVR-RD-02, AVROBIO’s late-stage HSC gene therapy for Gaucher disease, may have a significant commercial advantage over competitors, in our opinion.
More Caisse des Depots to reopen pawnshop thanks to Macron
The company met their expectations, according to the analysts, and the stock’s recent weakness was probably caused by selling on the news and worries about diluted financing following the Gaucher incident.
After falling 5% on Tuesday and 7% on Wednesday, AVRO shares are down around 0.2 percent on Thursday.
In the meantime, the encouraging Gaucher update prompted BTIG to upgrade AVROBIO shares from Neutral to Buy and set a $4 price target for them.
“We trust toward the beginning of today’s update, from four Gaucher illness type 1 (GD1) patients that got AVR-RD-02 treatment in the continuous Stage 1/2 Guard1 study and one sort 3 (GD3) patient treated on named-patient premise in the UK, support AVROBIO’s lentiviral quality treatment projects’ promising potential in lysosomal capacity issues (LSDs),” said BTIG examiners.
“Though still from a limited number of patients and after modest follow-up periods (two years for patient 1 as of November, one year for patient 2 as of June, and 15 months for the GD3 patient as of June, whose dosing had never been disclosed by AVROBIO before), today’s Gaucher data still justify the re-inclusion of the program into valuation,” the analysts added. “This morning’s Gaucher data still justify the re-inclusion of the program into valuation.”
Finally, Stifel maintained a Hold rating and a $2 price target on the stock, stating that the Gaucher disease incident had not affected the company’s thesis.
“Data from GD1 (n=4); Ph.2/3 GD3 study initiation 2H23, execution, and commercial implications (i.e., TAM), all against the backdrop of a cautious investor sentiment toward lentiviral (LV) gene therapy, mean volatility in shares before appropriate value can be ascribed, in our opinion,” the analysts wrote. “GD3 (n=1) and n=6 enrolled) can be promising, but questions on next steps (Ph.2/3 GD3 study initiation 2H23, execution, and
