Audentes Therapeutics (NASDAQ:BOLD) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Audentes Therapeutics (NASDAQ:BOLD) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. The brokerage currently has $31.00 price target on the biotechnology company’s stock.

According to Zacks, “Audentes Therapeutics, Inc. is a biotechnology company which focused on developing and commercializing gene therapy products for patients suffering from serious, life-threatening rare diseases. The company’s product pipeline consists of AT132 for the treatment of X-linked myotubular myopathy; AT342 for the treatment of crigler-najjar syndrome type 1; AT307 for the treatment of the CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia and AT982 for the treatment of pompe disease, which are in pre-clinical trial stage. Audentes Therapeutics, Inc. is based in San Francisco, California. “

Several other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Audentes Therapeutics from a strong-buy rating to a buy rating in a research note on Thursday, August 22nd. Mizuho reissued a buy rating and issued a $45.00 target price on shares of Audentes Therapeutics in a research note on Wednesday, August 7th. BidaskClub downgraded shares of Audentes Therapeutics from a hold rating to a sell rating in a research note on Friday, September 27th. Robert W. Baird assumed coverage on shares of Audentes Therapeutics in a research note on Wednesday, October 2nd. They issued an underperform rating and a $10.00 target price on the stock. Finally, Chardan Capital reissued a buy rating and issued a $50.00 target price on shares of Audentes Therapeutics in a research note on Sunday, October 6th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $39.35.

Audentes Therapeutics stock opened at $28.73 on Tuesday. The firm’s fifty day moving average is $30.14 and its 200 day moving average is $35.91. Audentes Therapeutics has a 52-week low of $17.95 and a 52-week high of $41.65.

Audentes Therapeutics (NASDAQ:BOLD) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.08) by $0.07. During the same quarter in the previous year, the company posted ($0.85) EPS. On average, equities research analysts predict that Audentes Therapeutics will post -4.29 earnings per share for the current fiscal year.

In related news, Director Louis G. Lange sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $32.16, for a total value of $321,600.00. Following the transaction, the director now owns 276,044 shares of the company’s stock, valued at approximately $8,877,575.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew R. Patterson sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $34.04, for a total transaction of $680,800.00. Following the completion of the transaction, the chief executive officer now directly owns 135,368 shares in the company, valued at approximately $4,607,926.72. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Audentes Therapeutics by 14.2% in the 2nd quarter. BlackRock Inc. now owns 3,333,445 shares of the biotechnology company’s stock worth $126,204,000 after buying an additional 413,768 shares during the period. Redmile Group LLC increased its stake in Audentes Therapeutics by 18.8% in the 1st quarter. Redmile Group LLC now owns 2,735,267 shares of the biotechnology company’s stock worth $106,730,000 after buying an additional 433,600 shares during the period. Vanguard Group Inc. increased its stake in Audentes Therapeutics by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,971,206 shares of the biotechnology company’s stock worth $74,629,000 after buying an additional 84,659 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in Audentes Therapeutics by 913.5% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,619,831 shares of the biotechnology company’s stock worth $63,206,000 after buying an additional 1,459,999 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Audentes Therapeutics by 2.7% in the 2nd quarter. Victory Capital Management Inc. now owns 904,221 shares of the biotechnology company’s stock worth $34,233,000 after buying an additional 23,620 shares during the period. 98.21% of the stock is currently owned by institutional investors.

About Audentes Therapeutics

Audentes Therapeutics, Inc, a clinical stage biotechnology company, focuses on developing and commercializing gene therapy products for patients living with serious, life-threatening rare diseases caused by single gene defects. The company is developing AT132, which is in Phase I/II clinical studies for the treatment of X-linked myotubular myopathy (XLMTM); AT342 that is in Phase I/II clinical studies to treat crigler-najjar syndrome; AT845, which is in preclinical studies for the treatment of pompe disease; and AT307 to treat CASQ2 subtype of catecholaminergic polymorphic ventricular tachycardia.

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