JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
On Thursday, Cantor Fitzgerald analyst Kristen Kluska reiterated an Overweight rating on Taysha Gene Therapies (NASDAQ:TSHA) with a steady price target of $7.00. The stock, currently trading at $2.44, has experienced a -14.39% decline over the past week, according to InvestingPro data. The firm’s confidence is anchored in the latest updates surrounding Taysha’s Phase 1/2 AAV-based gene therapy, TSHA-102, which is being developed to address Rett syndrome. InvestingPro data shows the company maintains strong liquidity with a current ratio of 5.35, though it’s currently burning through cash rapidly.
The company presented new data disclosures and unveiled the pivotal Part B trial design for TSHA-102. This follow-up comes after initial data from four patients receiving a low dose had left investors with questions regarding the potential for data replication in a broader patient pool, the possibility of a dose-response relationship, and the implications for regulatory approval success.
Kluska’s comments highlighted the significance of the new data, emphasizing that the updates not only met but exceeded expectations. The analyst pointed out that the milestone gains observed are clearly not occurring by chance. Furthermore, the data revealed a noticeable dose-response relationship, both in terms of the benefits measured and the time required to achieve them.
The combination of the latest clinical data and the outlined regulatory pathway has bolstered Cantor Fitzgerald’s conviction in the therapy’s potential success. The firm’s maintained price target and rating reflect this optimistic outlook for Taysha Gene Therapies as it progresses through the development stages of its gene therapy candidate. The broader analyst consensus remains highly bullish, with an average rating of 1.36 (where 1 is Strong Buy). For deeper insights into TSHA’s financial health and growth prospects, including 12 additional ProTips, check out the comprehensive research report available on InvestingPro.
In other recent news, Taysha Gene Therapies has made significant strides with its gene therapy candidate TSHA-102 for Rett Syndrome. The company announced pivotal trial design details, with the FDA providing written alignment for a single-arm, open-label trial focusing on developmental milestone gains in patients aged six years and older. This trial is expected to begin in the third quarter of 2025. All patients in the REVEAL Part A trial achieved at least one developmental milestone following treatment, with the high dose showing better outcomes than the low dose and no serious adverse events reported.
JMP Securities analyst Silvan Tuerkcan raised the price target for Taysha from $5.00 to $6.00, maintaining a Market Outperform rating, citing the positive clinical data and regulatory developments. Meanwhile, Taysha launched a public offering of its common stock and pre-funded warrants, with Jefferies, BofA Securities, Piper Sandler, and Barclays (LON:BARC) managing the offering. Baird also reiterated an Outperform rating with a $7.00 price target, emphasizing the company’s progress with the FDA on the upcoming pivotal study. Investors are closely watching Taysha’s advancements in its gene therapy programs and potential acquisition interest from Astellas Pharma.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.