In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Entrada Therapeutics Inc (TRDA – Research Report), with a price target of $20.00.
Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Entrada Therapeutics Inc. The recent lifting of the FDA clinical hold on ENTR-601-44 is a significant development, allowing the company to proceed with its Phase 1b clinical study, ELEVATE-44-102, aimed at treating Duchenne muscular dystrophy (DMD). This regulatory progress not only mitigates risk but also enhances the likelihood of future FDA approvals for other pipeline candidates, indicating a positive regulatory outlook for Entrada’s platform.
Additionally, Entrada has received authorization from the UK’s MHRA to initiate a Phase 1/2 study, ELEVATE-44-201, further advancing their clinical trials globally. Previous Phase 1 trials have shown promising results with no serious adverse events and significant target engagement, supporting the therapeutic potential of ENTR-601-44. These developments, coupled with a strategic focus on generating proof-of-concept data, underpin Selvaraju’s confidence in the company’s growth prospects and justify the Buy rating with a 12-month price target of $20 per share.
According to TipRanks, Selvaraju is a 4-star analyst with an average return of 3.6% and a 38.08% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Vanda, and Anavex Life Sciences.
In another report released yesterday, Roth MKM also reiterated a Buy rating on the stock with a $29.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com