Audentes Therapeutics (NASDAQ:BOLD) Downgraded to Buy at BidaskClub

BidaskClub cut shares of Audentes Therapeutics (NASDAQ:BOLD) from a strong-buy rating to a buy rating in a research note released on Thursday morning, BidAskClub reports.

BOLD has been the topic of several other reports. Leerink Swann restated an outperform rating and issued a $48.00 price target (up from $37.00) on shares of Audentes Therapeutics in a research report on Wednesday, April 17th. ValuEngine upgraded shares of Audentes Therapeutics from a buy rating to a strong-buy rating in a research report on Saturday, July 27th. Svb Leerink raised their price target on shares of Audentes Therapeutics from $37.00 to $48.00 and gave the stock an outperform rating in a research report on Wednesday, April 17th. William Blair reiterated a hold rating on shares of Audentes Therapeutics in a research report on Wednesday, August 7th. Finally, Zacks Investment Research lowered shares of Audentes Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $39.99.

NASDAQ BOLD opened at $33.88 on Thursday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -9.96 and a beta of 1.70. The company’s fifty day moving average is $36.98 and its two-hundred day moving average is $35.87. Audentes Therapeutics has a 52-week low of $17.95 and a 52-week high of $41.65.

Audentes Therapeutics (NASDAQ:BOLD) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.08) by $0.07. During the same quarter last year, the business earned ($0.85) earnings per share. Sell-side analysts forecast that Audentes Therapeutics will post -4.25 earnings per share for the current year.

In other news, Director Louis G. Lange sold 21,000 shares of Audentes Therapeutics stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $37.79, for a total transaction of $793,590.00. Following the sale, the director now directly owns 290,001 shares in the company, valued at approximately $10,959,137.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew R. Patterson sold 20,000 shares of Audentes Therapeutics stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $34.04, for a total transaction of $680,800.00. Following the sale, the chief executive officer now owns 135,368 shares in the company, valued at $4,607,926.72. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its position in Audentes Therapeutics by 578.5% in the second quarter. Meeder Asset Management Inc. now owns 726 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 619 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Audentes Therapeutics by 12.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,031 shares of the biotechnology company’s stock valued at $274,000 after buying an additional 751 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Audentes Therapeutics by 50.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,990 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 1,005 shares in the last quarter. Aperio Group LLC acquired a new position in Audentes Therapeutics in the second quarter valued at about $46,000. Finally, Swiss National Bank boosted its position in Audentes Therapeutics by 2.1% in the second quarter. Swiss National Bank now owns 67,500 shares of the biotechnology company’s stock valued at $2,556,000 after buying an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

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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Analyst Recommendations for Audentes Therapeutics (NASDAQ:BOLD)

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