2 days ago
Avidity Biosciences, Inc. (RNA) Initiated with a Strong Buy at Raymond James
Avidity Biosciences, Inc. (NASDAQ:RNA) is one of the 13 Biotech Stocks with Huge Upside Potential. Raymond James has started coverage of Avidity Biosciences, Inc. (NASDAQ:RNA), with a Strong Buy rating and a price objective of $65.
A scientist holding a vial of a promising product candidate for therapeutic development.
The rating is part of a larger biotech sector note, in which the firm sees favorable risk/reward across the board. Raymond James points out that less de-risked platforms can produce the most outsized returns, even if companies with de-risked, high probability-of-success assets are frequently viewed with greater certainty.
The firm stresses its confidence in del-zota, which is anticipated to be the first medicine from Avidity Biosciences, Inc. (NASDAQ:RNA)'s antibody oligonucleotide conjugate (AOC) platform to be approved.
Avidity Biosciences, Inc. (NASDAQ:RNA) is becoming more well-known for its AOC platform, which targets muscle disorders by combining oligonucleotides and antibodies. According to Raymond James, one of the platform's top candidates, Del-Zota, has a strong chance of being approved.
The $65 objective is in line with the firm's opinion that early-stage, less-risked assets can yield higher returns and points out faith in the platform's revolutionary potential.
Avidity Biosciences, Inc. (NASDAQ:RNA) is a biopharmaceutical firm dedicated to developing a novel type of RNA treatment known as Antibody Oligonucleotide Conjugates, or AOCs.
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