FRLN - Mizuho initiates Freeline Therapeutics with a buy rating

Mizuho analyst Difei Yang has initiated Freeline Therapeutics (FRLN) with a buy rating and a $27 price target.Yang says that a Mizuho survey suggests that the company's lead program in hemophilia B, FLT180a, has strong commercial potential "given superior factor activity levels achieved by patients vs. competitors."Yang sees an 80% chance of success for FLT180a, which is currently in phase 1/2, and a 15% peak market penetration rate, accounting for ~450 total patients treated in the U.S. by 2031.Given that shares are down ~25% year-to-date, shares are at an attractive entry point, according to Yang.FLT201, a preclinical candidate for Type 1 Gaucher Disease, could also provide additional upside.Freeline shares are up 3.2% to $14.20 in morning trading.

For further details see:

Mizuho initiates Freeline Therapeutics with a buy rating