Audentes Therapeutics (NASDAQ:BOLD)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Friday. They presently have a $33.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 27.56% from the stock’s current price.
The analysts wrote, “Our Buy rating and $33 price target on shares of Audentes are currently leveraged on AT132. We have removed AT342 from our estimates pending clinical clarity anticipated during the company’s 1Q19 call estimated in May 2019. Given the robustness of the clinical data thus far, and the rarity of the condition, we are increasing our AT132 launch price to $1.7M vs. our prior estimate of $1M, which drives AT132 NPV to $33/share, vs. our prior $17/share.””
BOLD has been the subject of several other reports. Mizuho reiterated a “buy” rating and issued a $45.00 target price on shares of Audentes Therapeutics in a research report on Wednesday, October 3rd. Raymond James reissued a “hold” rating on shares of Audentes Therapeutics in a research note on Wednesday, November 7th. JPMorgan Chase & Co. started coverage on Audentes Therapeutics in a research note on Monday, November 26th. They issued an “overweight” rating and a $35.00 price target for the company. Guggenheim started coverage on Audentes Therapeutics in a research note on Tuesday, October 9th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research raised Audentes Therapeutics from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Tuesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $31.79.
Audentes Therapeutics stock traded up $1.18 during trading hours on Friday, hitting $25.87. The stock had a trading volume of 1,124,640 shares, compared to its average volume of 689,180. The company has a market capitalization of $1.04 billion, a PE ratio of -7.61 and a beta of 1.76. Audentes Therapeutics has a one year low of $17.95 and a one year high of $46.18.
Audentes Therapeutics (NASDAQ:BOLD) last posted its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.09). During the same quarter in the previous year, the company posted ($0.88) earnings per share. On average, equities research analysts forecast that Audentes Therapeutics will post -3.42 EPS for the current year.
In related news, Director Louis G. Lange sold 32,000 shares of the firm’s stock in a transaction that occurred on Monday, December 24th. The stock was sold at an average price of $18.62, for a total transaction of $595,840.00. Following the completion of the sale, the director now owns 325,799 shares of the company’s stock, valued at $6,066,377.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louis G. Lange sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $22.49, for a total value of $539,760.00. Following the sale, the director now directly owns 345,799 shares of the company’s stock, valued at approximately $7,777,019.51. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOLD. Rhumbline Advisers grew its stake in Audentes Therapeutics by 82.9% during the second quarter. Rhumbline Advisers now owns 31,109 shares of the biotechnology company’s stock worth $1,189,000 after purchasing an additional 14,101 shares during the period. Bank of New York Mellon Corp grew its stake in Audentes Therapeutics by 32.1% during the second quarter. Bank of New York Mellon Corp now owns 127,693 shares of the biotechnology company’s stock worth $4,879,000 after purchasing an additional 31,048 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Audentes Therapeutics by 48.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 67,660 shares of the biotechnology company’s stock worth $2,586,000 after purchasing an additional 22,063 shares during the period. BlackRock Inc. grew its stake in Audentes Therapeutics by 25.4% during the second quarter. BlackRock Inc. now owns 2,458,171 shares of the biotechnology company’s stock worth $93,925,000 after purchasing an additional 497,767 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Audentes Therapeutics during the second quarter worth approximately $226,000. 84.48% of the stock is owned by institutional investors and hedge funds.
About Audentes Therapeutics
Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients suffering from diseases caused by single gene defects. The company is developing AT132, which is in Phase I/II clinical studies for the treatment of X-linked myotubular myopathy (XLMTM); AT342 that is in Phase I/II clinical studies to treat crigler-najjar syndrome; AT982, which is in preclinical studies for the treatment of pompe disease; and AT307 that is in preclinical studies to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.
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