Raymond James Financial Begins Coverage on Taysha Gene Therapies (NASDAQ:TSHA)

Key Points

• Raymond James Financial has initiated coverage of Taysha Gene Therapies (NASDAQ:TSHA) with a "strong-buy" rating and a price target of $13.00, suggesting a potential upside of 175.42% from its previous close.
• Other analysts have also shown confidence in TSHA, with Needham & Company setting a price objective of $10.00 and Bank of America targeting $8.00, while the average target price sits at $9.67.
• Despite reporting a quarterly revenue of $1.99 million, Taysha Gene Therapies missed EPS estimates and has a negative return on equity of 78.44%, indicating financial challenges for the company.

Stock analysts at Raymond James Financial started coverage on shares of Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) in a research report issued on Tuesday, Marketbeat reports. The brokerage set a "strong-buy" rating and a $13.00 price target on the stock. Raymond James Financial's target price indicates a potential upside of 175.42% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of Taysha Gene Therapies in a report on Friday. Bank of America started coverage on shares of Taysha Gene Therapies in a report on Friday, July 11th. They set a "buy" rating and a $8.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Taysha Gene Therapies from $7.50 to $8.00 and gave the stock an "overweight" rating in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Taysha Gene Therapies in a research note on Wednesday, October 8th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $12.00 target price on shares of Taysha Gene Therapies in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Taysha Gene Therapies currently has an average rating of "Moderate Buy" and an average target price of $9.67.

Taysha Gene Therapies Price Performance

Shares of NASDAQ:TSHA opened at $4.72 on Tuesday. Taysha Gene Therapies has a 12 month low of $1.05 and a 12 month high of $5.51. The company's 50-day moving average price is $3.51 and its two-hundred day moving average price is $2.74. The company has a quick ratio of 12.48, a current ratio of 12.48 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.29 billion, a P/E ratio of -13.88 and a beta of 0.99.

Taysha Gene Therapies (NASDAQ:TSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). Taysha Gene Therapies had a negative return on equity of 78.44% and a negative net margin of 1,144.97%.The company had revenue of $1.99 million for the quarter, compared to the consensus estimate of $1.61 million. As a group, research analysts forecast that Taysha Gene Therapies will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Taysha Gene Therapies

In related news, insider Sukumar Nagendran sold 200,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $3.23, for a total value of $646,000.00. Following the sale, the insider directly owned 1,006,439 shares in the company, valued at $3,250,797.97. This trade represents a 16.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.78% of the stock is owned by corporate insiders.

Institutional Trading of Taysha Gene Therapies

A number of hedge funds have recently modified their holdings of TSHA. Marex Group plc acquired a new stake in shares of Taysha Gene Therapies in the 2nd quarter valued at approximately $29,000. E Fund Management Co. Ltd. acquired a new stake in shares of Taysha Gene Therapies in the 2nd quarter valued at approximately $31,000. ST Germain D J Co. Inc. raised its position in shares of Taysha Gene Therapies by 81.8% in the 3rd quarter. ST Germain D J Co. Inc. now owns 9,633 shares of the company's stock valued at $32,000 after acquiring an additional 4,333 shares during the period. May Hill Capital LLC acquired a new stake in shares of Taysha Gene Therapies in the 2nd quarter valued at approximately $37,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Taysha Gene Therapies by 156.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,606 shares of the company's stock valued at $41,000 after acquiring an additional 10,742 shares during the period. 77.70% of the stock is currently owned by institutional investors and hedge funds.

Taysha Gene Therapies Company Profile

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.

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