BMO Capital initiated coverage of Avidity Biosciences (RNA) with an Outperform rating and $72 price target Avidity’s pipeline includes Duchenne muscular dystrophy, with potential commercialization in 2026, and Myotonic Dystrophy Type 1 and Facioscapulohumeral Muscular Dystrophy, wherein Avidity’s drugs could be “first-in-disease,” the analyst tells investors. Avidity’s main catalyst is the FDA’s decision on FSHD regulatory pathway in Q2, notes the analyst, whose base case scenario assumes a full-approval pathway.
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