Needham Maintains a Buy on Taysha Gene Therapies (TSHA), Keeps PT at $8

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) is one of the best biotech penny stocks to buy right now. On July 1, analyst Gil Blum from Needham maintained a Buy rating on Taysha Gene Therapies, Inc. (NASDAQ:TSHA), keeping the price target at $8.00.

A laboratory technician preparing a gene therapy sample in a sterile environment.

The analyst gave the positive rating due to various factors supporting Taysha Gene Therapies, Inc.’s (NASDAQ:TSHA) competitive market positioning, stating that its pivotal study design for the TSHA-102 gene therapy appears potentially more successful and straightforward when compared to Neurogene’s NGN-401.

Blum added that while the developmental milestones for both studies are similar, NGN-401’s study has a higher bar for success as it requires minimal improvement on the CGI-I scale.

The analyst also reasoned that NGN-401’s study involves a younger patient population that may introduce confounding factors because of spontaneous developmental improvements. But since Taysha Gene Therapies, Inc.’s (NASDAQ:TSHA) study includes an older age group, these variables may be potentially reduced.

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) is a clinical-stage biotechnology company that develops and commercializes adeno-associated virus (AAV) based gene therapies to treat monogenic diseases of the central nervous system.

The company is also involved in the development of multiple gene therapy platforms, including AAV9 Discovery, Novel Capsid, and AAV Redosing.

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Disclosure: None. This article is originally published at Insider Monkey.