Avidity Biosciences shares are trading higher after B of A Securities initiated coverage on the stock with a Buy rating and a price target of $40.
Portfolio Pulse from Benzinga Newsdesk
Avidity Biosciences shares surged following B of A Securities' initiation of coverage with a Buy rating and a $40 price target.
May 03, 2024 | 11:38 am
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POSITIVE IMPACT
Avidity Biosciences' stock price is expected to experience a positive short-term impact following the Buy rating and $40 price target from B of A Securities.
The initiation of coverage by a major financial institution like B of A Securities with a Buy rating and a significant price target usually leads to increased investor confidence and demand for the stock, driving up its price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100