Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com - Raymond James has lowered its price target on Korro Bio Inc. (NASDAQ:KRRO) to $147.00 from $153.00 while maintaining a Strong Buy rating on the stock. The company, currently trading at $15.99, is considered slightly undervalued according to InvestingPro Fair Value metrics. Analyst consensus remains highly positive with a 1.3 rating, while price targets range from $25 to $180.
The firm’s decision follows Korro Bio’s second-quarter 2025 earnings report, with Raymond James citing its positive outlook on the company’s lead asset KRRO-110 in alpha-1 antitrypsin deficiency (AATD). InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 9.41, though it’s currently not profitable with an EBITDA of -$91.41M.
According to Raymond James, over 80% of the healthy volunteers planned for the Phase 1/2a REWRITE study evaluating KRRO-110 have been dosed across multiple single ascending dose cohorts, with no treatment-emergent serious adverse events or dose limiting toxicities observed as of August 12, 2025.
Korro Bio continues to expect an interim readout for Part 1 of the study in the second half of 2025, followed by completion of Part 2 in 2026. The company received orphan drug designation from the European Medicines Agency in July for KRRO-110 in AATD treatment, adding to its existing FDA orphan designation.
The company plans to announce a subcutaneous, GalNAc-enabled development candidate for a rare metabolic disease by the end of 2025, supporting its strategy of three indications in two tissue types enabled by the OPERA editing platform.
In other recent news, Korro Bio Inc. announced that the European Medicines Agency (EMA) has granted orphan drug designation for its investigational treatment, KRRO-110, aimed at treating Alpha-1 Antitrypsin Deficiency (AATD). This designation in the European Union follows a similar status granted by the U.S. Food and Drug Administration in March 2025. The therapy is currently undergoing evaluation in the Phase 1/2a REWRITE clinical study, with an interim readout anticipated in the latter half of 2025. Additionally, H.C. Wainwright has reiterated its Buy rating for Korro Bio, maintaining a price target of $100. The firm highlighted the company’s RNA therapy approach, which aims to restore normal protein levels to address AATD in both lung and liver. The positive opinion from the EMA Committee regarding KRRO-110 further supports the company’s ongoing efforts in this therapeutic area. These developments reflect the company’s continued progress in advancing its treatment pipeline.
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