Dyne Therapeutics' (DYN) biggest catalyst moving forward is the read-through from competitor Avidity Biosciences (RNA) phase 3 myotonic dystrophy type 1 readout in H2 of 2026 to further inform its probability of success in DM1, Oppenheimer said in a Wednesday note.
Along with this, Dyne Therapeutics' stock is expected to see upside from positive regulatory updates on the company's Duchenne Muscular Dystrophy program throughout 2026 and advancement of the Facioscapulohumeral Muscular Dystrophy program, Oppenheimer said.
Despite increased competition in DMD, the brokerage said that high unmet need, along with pricing flexibility, renders the company's products "multi-billion-dollar opportunities."
The firm upgraded its rating on Dyne Therapeutics to outperform from perform and raised its price target to $40 from $11.
Price: 19.59, Change: +1.15, Percent Change: +6.21