Analyst Andrew Fein from H.C. Wainwright maintained a Buy rating on Dyne Therapeutics (DYN – Research Report) and decreased the price target to $46.00 from $55.00.
Andrew Fein’s rating is based on Dyne Therapeutics’ promising potential for accelerated approval of its therapies, particularly DYNE-101 and DYNE-251. The company’s use of the splicing index as a surrogate endpoint in the ACHIEVE trial for DYNE-101 suggests a strong indication of overall muscle health, which is supported by functional improvement data in DM1. This data, combined with the potential to capture RNA splicing shifts across the DM1 disease spectrum, indicates a positive outlook for the accelerated approval pathway.
Additionally, the safety profile of DYNE-251, validated by the DELIVER trial, demonstrates a dose-dependent effect on dystrophin levels with no significant adverse events, further supporting its case for accelerated approval. The robust safety data and the observed increase in dystrophin expression compared to existing treatments highlight the potential effectiveness of Dyne’s therapies. These factors, along with a strategic reevaluation of operational expenses, contribute to Fein’s Buy rating, despite a slight reduction in the price target from $55 to $46.
In another report released yesterday, RBC Capital also reiterated a Buy rating on the stock with a $41.00 price target.