In a report released yesterday, Yanan Zhu from Wells Fargo maintained a Buy rating on Taysha Gene Therapies (TSHA – Research Report), with a price target of $7.50.
Yanan Zhu has given his Buy rating due to a combination of factors that suggest a positive outlook for Taysha Gene Therapies. The company has made significant progress in its discussions with the FDA, and the upcoming updates in the first half of 2025 regarding the pivotal trial design and primary endpoint could serve as a strong catalyst for the stock. The REVEAL study has shown promising results, with no treatment-related serious adverse events or dose-limiting toxicities, supporting the advancement to Part B of the trial.
Additionally, Taysha Gene Therapies has a solid financial position, ending the fourth quarter of 2024 with a cash reserve of approximately $139 million, which is expected to sustain operations until the fourth quarter of 2026. The company is also on track to provide updates on potential FDA alignment for the Part B trial design, focusing on functional gains in key clinical domains affected by Rett syndrome. These factors, along with consistent discussions with the FDA, contribute to the optimistic outlook and justify the Buy rating.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $5.00 price target.