Nightstar Therapeutics initiated with an Overweight at Barclays. Barclays analyst Gena Wang started Nightstar Therapeutics with an Overweight rating and $28 price target. The company’s current enterprise value of $250M does not reflect the potential of its two leading programs in inherited retinal disorders, Wang tells investors in a research note. She estimates total probability-unadjusted peak sales at ~$1B after considering anticipated competition for the two programs. The analyst sees a “reasonable chance” of success for both NSR-REP1 in choroideremia and NSR-RPGR in X-linked retinal pigmentosa. Data readouts in 2019/20 should further characterize the product profiles and generate potential upside, says Wang.
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