Cantor Fitzgerald Reiterates a Buy Rating on Avidity Biosciences (RNA)

Avidity Biosciences, Inc. (NASDAQ:RNA) is one of the Best Stocks to Buy for the Next 3 Months According to Hedge Funds. On September 3, Eric Schmidt FCA from Cantor Fitzgerald reiterated a Buy rating on Avidity Biosciences, Inc. (NASDAQ:RNA) with a price target of $96.

The reiterated Buy rating on the stock comes after the company reported strong business updates in its fiscal second quarter of 2025. The company reported progress in three late-stage neuromuscular programs for treating Duchenne muscular dystrophy, myotonic dystrophy type 1, and facioscapulohumeral muscular dystrophy.

Management noted that the FDA granted Breakthrough Therapy designation for Delpacibart Zotadirsen and that they plan to submit a Biologics License Application for del-zota by the end of 2025. The company also advanced clinical trials for Delpacibart Etedesiran and Delpacibart Braxlosiran with regulatory progress and plans for future marketing applications.

Financially, Avidity Biosciences, Inc. (NASDAQ:RNA) grew its collaboration revenue by  88.12% to reach $3.85 billion, which was ahead of the consensus by $2.24 million.

Avidity Biosciences, Inc. (NASDAQ:RNA) is a biopharmaceutical company developing a new class of RNA therapies called Antibody Oligonucleotide Conjugates.

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