Wang & Lee Group board approves 250-to-1 reverse share split
On Monday, Truist Securities adjusted its outlook on Autolus Therapeutics plc (NASDAQ:AUTL), reducing the price target to $10.00 from the previous $11.00 but continuing to endorse the stock with a Buy rating. Currently trading at $1.57, significantly below its 52-week high of $6.44, the stock maintains strong analyst support with a consensus "Strong Buy" rating. The adjustment reflects a refinement in the firm’s financial model and projections for Autolus, specifically regarding the AUTO4 program.
The decision to lower the price target comes as Truist Securities awaits further details on the company’s plans for AUTO4. Despite this change, the analysts expect Autolus’s Aucatzyl product to begin its market ascent in the first half of 2025, aligning with the consensus, and then to pick up pace more robustly in the second half of the year. InvestingPro data shows the company maintains a strong financial position with more cash than debt, while analysts project significant revenue growth of 169% for FY2025.
Truist Securities has chosen a cautious approach by not attributing any value to potential autoimmune indications at this stage. However, they indicate that this assessment may be subject to revision following the outcomes of Autolus’s Research and Development day in April.
The analysts reassert their confidence in the stock by reaffirming the Buy rating. They highlight that the anticipated sales increase for Aucatzyl in 2025 is a significant factor underpinning their positive stance on Autolus Therapeutics shares. The company’s progress and updates in the coming months, particularly those pertaining to their April R&D day, are poised to provide further insights into the company’s strategic direction and growth potential.
In other recent news, Autolus Therapeutics reported a net loss of $220.7 million for the fourth quarter of 2024, up from $208.4 million the previous year. Despite the losses, Autolus significantly increased its cash reserves to $588 million by the end of 2024, bolstered by a $600 million collaboration with BioNTech (NASDAQ:BNTX) and equity financing. The company has made strides with its therapy Aucatzyl, surpassing its initial goal by activating 33 U.S. treatment centers, which now cover approximately 60% of the U.S. patient population. Mizuho (NYSE:MFG) Securities and Truist Securities have both maintained their optimistic outlooks on Autolus, with Mizuho reiterating a $12 price target and Truist maintaining an $11 target. These endorsements reflect strong demand for Aucatzyl, despite initial cautiousness due to potential operational challenges and reimbursement issues. Autolus is also eyeing regulatory approval for Aucatzyl in the UK and Europe, expected in the second half of 2025, alongside initial pediatric data. Furthermore, Autolus plans to share data on systemic lupus erythematosus and other autoimmune diseases from its Phase 1 CARLYSLE trial at an upcoming research and development event.
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