4 stories mentioning TRDAUpdated 45d ago
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Entrada Therapeutics (TRDA) has an average rating of buy and mean price target of $21.40, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Health care stocks declined late Thursday afternoon, with the NYSE Health Care Index decreasing 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.7%.The iShares Biotechnology ETF (IBB) dropped 2.2%.In corporate news, Entrada Therapeutics (TRDA) shares tumbled 57% after its drug for children with Duchenne muscular dystrophy fell short of analyst expectations in an early-to-mid stage trial, Reuters reported Thursday.Iovance Biotherapeutics (IOVA) shares fell past 13% after the company's Q1 loss narrowed less than expected and revenue missed estimates.Harmony Biosciences (HRMY) shares dropped 5.5% after the company's Q1 earnings and revenue fell short of analysts' estimates.Catalyst Pharmaceuticals (CPRX) shares rose 2.1% after the company agreed to be acquired by Angelini Pharma in a deal with an equity value of about $4.1 billion. The company also said it has reached a settlement agreement with Hetero Labs to resolve patent litigation regarding a proposed generic version of Firdapse.
Health care stocks declined late Thursday afternoon, with the NYSE Health Care Index decreasing 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.4%.The iShares Biotechnology ETF (IBB) dropped 2.3%.In corporate news, Entrada Therapeutics (TRDA) shares tumbled nearly 58% after its drug for children with Duchenne muscular dystrophy fell short of analyst expectations in an early-to-mid stage trial, Reuters reported Thursday.
Entrada Therapeutics (TRDA) shares were down nearly 58% in Thursday afternoon trading after its drug for children with Duchenne muscular dystrophy fell short of analyst expectations in an early-to-mid stage trial, Reuters reported Thursday.Entrada said Thursday that treated patients showed a 2.36% increase in dystrophin over a baseline of 4%.William Blair analyst Myles Minter expected a placebo-adjusted dystrophin increase of at least 10% as his base case for the drug, while the firm's own model estimated around 11%, Reuters reported.The data also compares unfavorably with del-zota, Avidity Biosciences' rival exon-44 skipping drug, which reported placebo-adjusted dystrophin increases of around 25% in its early-to-mid stage trial. Oppenheimer analysts had set that benchmark for Entrada's success as well, Reuters said.Price: $6.77, Change: $-9.26, Percent Change: -57.77%
