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Investing.com - Raymond James initiated coverage on Taysha Gene Therapies (NASDAQ:TSHA) with a Strong Buy rating and a price target of $13.00 on Monday, joining other analysts who maintain a consensus Strong Buy recommendation. The stock has shown remarkable momentum, delivering a 280% return over the past six months according to InvestingPro data.
The research firm cited Taysha’s strong positioning for success in its pivotal trial for patients with Rett syndrome, based on promising results from Part A of the Phase 1/2 REVEAL trial and constructive feedback from the FDA. With a market capitalization of $1.28 billion and a strong balance sheet showing more cash than debt, the company appears well-positioned to execute its clinical programs.
Raymond James noted several recent positive developments for Taysha, including its receipt of Breakthrough Therapy Designation based on the FDA’s review of Part A safety and efficacy data, finalized alignment with FDA on its pivotal trial protocol, and the granting of a 6-month interim analysis that could accelerate its Biologics License Application submission.
The company is currently enrolling patients in REVEAL Part B, its pivotal trial, with full enrollment and last-patient dosing expected by the first half of 2026. Data is anticipated in the second half of 2026, with potential commercialization in 2027.
Raymond James highlighted that there are currently no approved therapies addressing the root genetic cause of Rett syndrome, a population easily identified through MECP2 gene testing, giving Taysha a clear path to success. While analyst targets range from $5 to $14, InvestingPro analysis suggests the stock may be trading above its Fair Value. Subscribers can access 8 additional ProTips and comprehensive financial analysis in the Pro Research Report.
In other recent news, Taysha Gene Therapies has made significant strides with its TSHA-102 program for Rett syndrome. The company regained full rights to this gene therapy program after an option agreement with Astellas expired, allowing Taysha to hold unencumbered rights. Additionally, the U.S. Food and Drug Administration granted Breakthrough Therapy designation for TSHA-102, marking a critical regulatory milestone. Taysha has also finalized regulatory alignment with the FDA on the pivotal trial protocol and statistical analysis plan, which supports the planned Biologics License Application submission.
Investment firms have reacted positively to these developments. Cantor Fitzgerald reiterated an Overweight rating with a $13.00 price target, citing the company’s undervaluation. Citizens maintained a Market Outperform rating with a $6.00 price target, emphasizing Taysha’s potential in treating Rett syndrome. Meanwhile, Baird raised its price target from $7.00 to $12.00, maintaining an Outperform rating in light of the finalized regulatory alignment. These recent developments suggest a positive outlook for Taysha Gene Therapies in the biotechnology sector.
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