Canaccord Genuity Group Forecasts Strong Price Appreciation for Taysha Gene Therapies (NASDAQ:TSHA) Stock

Taysha Gene Therapies (NASDAQ:TSHA) had its target price hoisted by equities research analysts at Canaccord Genuity Group from $8.00 to $9.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 233.33% from the stock’s current price.

A number of other research firms have also recently commented on TSHA. Chardan Capital reiterated a “buy” rating and set a $7.00 target price on shares of Taysha Gene Therapies in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Taysha Gene Therapies in a report on Thursday, April 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 target price on shares of Taysha Gene Therapies in a research note on Monday, April 28th. Finally, JMP Securities reissued a “market outperform” rating and set a $5.00 target price on shares of Taysha Gene Therapies in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.57.

Taysha Gene Therapies Price Performance

Taysha Gene Therapies stock opened at $2.70 on Friday. Taysha Gene Therapies has a 52 week low of $1.05 and a 52 week high of $4.32. The company’s 50 day moving average price is $1.72 and its two-hundred day moving average price is $1.82. The stock has a market cap of $553.65 million, a P/E ratio of 4.29 and a beta of 0.90. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 0.48.

Taysha Gene Therapies (NASDAQ:TSHA) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). Taysha Gene Therapies had a negative return on equity of 106.36% and a negative net margin of 229.67%. The business had revenue of $2.30 million for the quarter, compared to analyst estimates of $1.48 million. During the same period last year, the company posted ($0.10) earnings per share. On average, equities analysts predict that Taysha Gene Therapies will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Taysha Gene Therapies

Several institutional investors have recently added to or reduced their stakes in the business. Octagon Capital Advisors LP increased its stake in shares of Taysha Gene Therapies by 2.4% in the first quarter. Octagon Capital Advisors LP now owns 10,700,000 shares of the company’s stock worth $14,873,000 after purchasing an additional 250,000 shares in the last quarter. Granahan Investment Management LLC boosted its holdings in Taysha Gene Therapies by 0.3% in the 1st quarter. Granahan Investment Management LLC now owns 1,640,793 shares of the company’s stock worth $2,281,000 after buying an additional 4,412 shares during the period. AQR Capital Management LLC grew its stake in Taysha Gene Therapies by 325.6% in the 1st quarter. AQR Capital Management LLC now owns 107,899 shares of the company’s stock valued at $150,000 after buying an additional 82,545 shares in the last quarter. ADAR1 Capital Management LLC raised its holdings in Taysha Gene Therapies by 500.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,066,309 shares of the company’s stock valued at $1,482,000 after acquiring an additional 888,602 shares during the period. Finally, Palo Alto Investors LP lifted its position in shares of Taysha Gene Therapies by 75.0% during the first quarter. Palo Alto Investors LP now owns 1,419,468 shares of the company’s stock worth $1,973,000 after acquiring an additional 608,200 shares in the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc, a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-120 for the treatment of giant axonal neuropathy; TSHA-102 for the treatment of Rett syndrome; TSHA-121 for the treatment of CLN7 disease; TSHA-118 for the treatment of CLN1 disease; TSHA-105 for the treatment of for SLC13A5 deficiency; TSHA-113 for the treatment of tauopathies; TSHA-106 for the treatment of angelman syndrome; TSHA-114 for the treatment of fragile X syndrome; and TSHA-101 for the treatment of GM2 gangliosidosis.