William Blair analyst Myles Minter has maintained their bullish stance on TRDA stock, giving a Buy rating today.
Myles Minter has given his Buy rating due to a combination of factors, including the recent regulatory progress made by Entrada Therapeutics Inc. The FDA’s authorization to initiate a Phase Ib trial of ENTR-601-44 marks a significant milestone, as it lifts the clinical hold that had been in place since December 2022. This development allows Entrada to proceed with enrolling both ambulatory and non-ambulatory adult DMD patients, ensuring they have continuous access to the therapy through an open-label extension.
Minter also highlights the strategic planning behind the upcoming trials, such as the Phase I/II trial of ENTR-601-44 in the U.K., which is expected to commence in the second quarter of 2025. The management’s focus on optimizing trial designs to enhance the likelihood of success is seen as a positive indicator for the company’s future performance. Additionally, the initiation of a global Phase I/II study of ENTR-601-45 further underscores Entrada’s commitment to advancing its pipeline, which contributes to Minter’s optimistic outlook and Buy rating.
According to TipRanks, Minter is a 4-star analyst with an average return of 6.8% and a 45.58% success rate. Minter covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Entrada Therapeutics Inc, and Alnylam Pharma.
Questions or Comments about the article? Write to editor@tipranks.com