Orchard Therapeutics: Guggenheim starts with "buy" on pipeline promise

Orchard Therapeutics

08/02/2021 12:14

** Brokerage Guggenheim starts coverage of drug developer
 ORTX.O  with "buy" rating
    ** Expects up to three global product launches that could
cumulatively translate into a $500 mln recurring revenue stream
    ** Sees the revenue stream as a source of funds for pipeline
expansion aimed at addressing commercially lucrative central
nervous system and auto-immune indications
    ** Expects co's Wiskott-Aldrich syndrome treatment in
pipeline, OTL-103, to add about $170 mln to the top-line during
2025 and beyond
    ** Brokerage set PT of $13, a premium of 75.9% to stock's
last close; median PT is $15 - Refinitiv IBES
    ** Current avg on stock is "buy"
    ** ORTX down 46.3% in last 12 months

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))