BTIG lowered the firm’s price target on Freeline to $2 from $3 and keeps a Buy rating on the shares. The company’s decision to prioritize the Gaucher disease program was not a surprise as the engineered construct and less competition should allow it to have a better opportunity for both clinical and commercial success, the analyst tells investors in a research note. The firm adds that it has included the Gaucher program into its valuation despite the early stage while removing the Fabry program, though it is based on Freeline being able to complete the program through FDA and EMA approvals, where BTIG assigns a 15% probability of success rate.
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Published first on TheFly
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