Positive Clinical Trials Bolster Buy Rating for Taysha Gene Therapies

Canaccord Genuity analyst Whitney Ijem maintained a Buy rating on Taysha Gene Therapies (TSHA – Research Report) yesterday and set a price target of $7.00.

Whitney Ijem has given his Buy rating due to a combination of factors related to Taysha Gene Therapies’s promising clinical trial results. The fourth-quarter report of 2023 highlighted positive long-term follow-up data from two adult Rett patients administered a low dose of TSHA-102 in Canada. These patients displayed sustained and new improvements across various clinical scales, with no severe adverse events reported, underscoring the potential efficacy and safety of the gene therapy. Furthermore, the company is advancing to a higher dosage cohort in its Phase 1/2 study, suggesting confidence in the therapy’s progression and a milestone to watch for in the upcoming pediatric data.

Patient 1, in particular, showed sustained improvements independent of steroid therapy, indicating that the benefits were likely attributable to the gene therapy itself. Both patients experienced enhancements in multiple dimensions of their condition, including seizure activity, sleep quality, autonomic functions, socialization, communication, and motor skills. These comprehensive improvements, coupled with the management’s strategic developments and anticipation of further data releases, provide a compelling case for Ijem’s optimistic outlook on Taysha Gene Therapies’s stock.

In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $7.00 price target.

TSHA’s price has also changed slightly for the past six months – from $3.060 to $2.960, which is a -3.27% drop .

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Taysha Gene Therapies (TSHA) Company Description:

Taysha Gene Therapies Inc is a patient-centric gene therapy company to eradicate monogenic CNS disease. It is focused on developing and commercializing AAV-based gene therapies for the treatment of monogenic diseases of the CNS in both rare and large patient populations. The company develops and commercializes transformative gene therapy treatments. It is advancing a deep and sustainable product portfolio of 18 gene therapy product candidates, with exclusive options to acquire four additional development programs. Its product candidates include TSHA-101, TSHA-118, TSHA-102, TSHA-103, and TSHA-104.