- Thinly traded Translate Bio (TBIO +13.3%) ticks higher with Goldman Sachs initiating coverage of the company with a Buy rating and price target of $19.
- The analyst notes that the company's lead drug, MRT5005, generated an initial signal of clinical activity, but not yet definitive, in an ongoing Phase 1/2 cystic fibrosis trial, and data from next cohorts represent a significant catalyst.
- The analyst sees the most straightforward path to market and unmet need being the about 10% of CF patients with splice mutations where Vertex Pharmaceuticals' drugs are not effective, which he projects could be a $1.9B peak opportunity.
- Translate Bio/Sanofi collaborated for the development of a COVID-19 vaccine that is on track to enter clinical trial this year, with initial data expected in in 1H of 2021.
- https://seekingalpha.com/news/3619909-goldman-sachs-initiates-coverage-on-translate-bio-29-upside
Monday, October 5, 2020
G oldman Sachs initiates coverage on Translate Bio, 29% upside potential
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