Goldman Sachs Bullish On Avidity Biosciences, Cites Scalable RNA Therapeutics Platform For Rare Diseases
Portfolio Pulse from Vandana Singh
Goldman Sachs has initiated coverage on Avidity Biosciences (NASDAQ:RNA) with a Buy rating and a $59 price target, citing the company's promising RNA therapeutics platform for rare diseases. Avidity's lead asset, del-desiran, is in Phase 3 trials for myotonic dystrophy, with potential blockbuster sales. The company also has promising candidates for other muscular dystrophies.
September 24, 2024 | 6:15 pm
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Goldman Sachs has initiated coverage on Avidity Biosciences with a Buy rating and a $59 price target, highlighting the company's potential in RNA therapeutics for rare diseases. The lead asset, del-desiran, is in Phase 3 trials, with significant sales potential.
Goldman Sachs' initiation of coverage with a Buy rating and a $59 price target is a strong positive signal for Avidity Biosciences. The company's lead asset, del-desiran, is in advanced trials with high sales potential, which could drive the stock price up.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100