Needham & Company LLC Reiterates “Buy” Rating for Taysha Gene Therapies (NASDAQ:TSHA)

Taysha Gene Therapies (NASDAQ:TSHA)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $7.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 138.10% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and set a $7.00 price objective on shares of Taysha Gene Therapies in a research report on Thursday, March 21st. Chardan Capital raised their price objective on Taysha Gene Therapies from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Piper Sandler began coverage on Taysha Gene Therapies in a research report on Tuesday. They set an “overweight” rating and a $9.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a research report on Wednesday, March 20th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 target price on shares of Taysha Gene Therapies in a research report on Wednesday, March 20th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $6.88.

Taysha Gene Therapies Stock Down 8.7 %

Shares of NASDAQ:TSHA opened at $2.94 on Thursday. The business has a 50-day moving average price of $2.47 and a 200 day moving average price of $2.12. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $549.84 million, a price-to-earnings ratio of -4.39 and a beta of 0.29. Taysha Gene Therapies has a 12-month low of $0.50 and a 12-month high of $3.89.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.35 earnings per share (EPS) for the quarter. The business had revenue of $3.60 million for the quarter, compared to analyst estimates of $4.75 million. Sell-side analysts expect that Taysha Gene Therapies will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Taysha Gene Therapies

Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Taysha Gene Therapies by 2,035.0% in the 3rd quarter. FMR LLC now owns 24,527,801 shares of the company’s stock valued at $77,508,000 after buying an additional 23,378,974 shares during the period. RA Capital Management L.P. purchased a new position in shares of Taysha Gene Therapies in the 3rd quarter valued at about $58,373,000. RTW Investments LP purchased a new position in shares of Taysha Gene Therapies in the 3rd quarter valued at about $53,382,000. Vanguard Group Inc. boosted its stake in shares of Taysha Gene Therapies by 16.3% in the 4th quarter. Vanguard Group Inc. now owns 6,195,567 shares of the company’s stock valued at $10,966,000 after buying an additional 867,703 shares during the period. Finally, Avoro Capital Advisors LLC boosted its stake in shares of Taysha Gene Therapies by 11.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,355,555 shares of the company’s stock valued at $7,709,000 after buying an additional 430,555 shares during the period. 77.70% of the stock is owned by institutional investors and hedge funds.

Taysha Gene Therapies Company Profile

Taysha Gene Therapies, Inc, a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN7 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 for the treatment of for SLC13A5 deficiency; TSHA-113 for the treatment of tauopathies; TSHA-106 for the treatment of angelman syndrome; TSHA-114 for the treatment of fragile X syndrome; and TSHA-101 for the treatment of GM2 gangliosidosis.