H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Entrada Therapeutics Inc (TRDA – Research Report) today and set a price target of $20.00.
Ram Selvaraju has given his Buy rating due to a combination of factors including Entrada Therapeutics Inc’s strong financial position and promising clinical developments. The company concluded the year with a robust financial reserve totaling $327.4 million, expected to support its operations through the second quarter of 2026. This financial stability is reinforced by Entrada’s advancing Duchenne muscular dystrophy (DMD) franchise, with anticipated regulatory submissions for its therapeutic candidates ENTR-601-44 and ENTR-601-45 in the fourth quarter of 2024.
Furthermore, Entrada’s collaborative efforts in myotonic dystrophy type 1 (DM1) are showing progress, with a Phase 1/2 clinical trial of VX-670 already underway. The company’s U.S. clinical entry for ENTR-601-44 is also anticipated to benefit from favorable Phase 1 study data expected in October. Additionally, Entrada’s recent financial results exceeded expectations, with significant revenue driven by milestone recognition from a collaboration agreement, suggesting a more favorable financial outlook than previously estimated. Selvaraju’s confidence in Entrada is also supported by the company’s potential to receive substantial milestone payments under its existing collaboration, further validating his Buy rating.
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Entrada Therapeutics Inc (TRDA) Company Description:
Entrada Therapeutics Inc mission is to transform the treatment of devastating diseases and improve patients quality of life by developing intracellular biologics. Leveraging its proprietary Endosomal Escape Vehicle platform, Entrada is creating a diverse and expanding pipeline of oligonucleotide, antibody, enzyme, protein and peptide programs to efficiently target and engage underlying drivers of diseases.
