Dyne Therapeutics

DYN · NASDAQ

$16.27+$1.04 (+6.83%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $15.23

DYN analyst rating

BuyConsensus of 13 analysts over the last 12 months. 85% rate it a buy.

Strong buy0
Buy11
Hold1
Underperform1
Sell0

12-month price target · 15 analysts

Average $37.35 (+129.5% upside)

Low: $26.26
Now: $16.27
High: $52.50

Upgrades and downgrades

The latest rating actions, newest first

DYN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Chardan Capital	Sep 30, 2026	Maintains	Buy	$38.00	38%
HC Wainwright & Co.	Sep 30, 2026	Maintains	Buy	$50.00 → $32.00	16%
Piper Sandler	Sep 29, 2026	Maintains	Overweight	$47.00	40%
Morgan Stanley	Sep 9, 2026	Maintains	Overweight	$45.00 → $36.00	43%
JP Morgan	Sep 9, 2026	Downgrade	Neutral → Underweight	$17.00 → $10.00	44%
RBC Capital	Sep 9, 2026	Maintains	Outperform	$35.00 → $30.00	44%
Baird	Sep 9, 2026	Maintains	Outperform	$30.00 → $26.00	45%
Morgan Stanley	Jul 31, 2026	Maintains	Overweight	$47.00 → $45.00	43%
RBC Capital	Jul 30, 2026	Maintains	Outperform	$30.00 → $35.00	44%
Cantor Fitzgerald	Jul 23, 2026	Initiates	Overweight	—	34%

The case for and against

Updated Oct 16, 2026

Bull case

Dyne Therapeutics is viewed positively because its pooled 12-month ACHIEVE MAD data showed consistent functional gains across vHOT, 5xSTS, QMT, and MDHI, plus a first-time divergence from matched END-DM1 natural history, supporting the idea that its FORCE platform can deliver meaningful disease modification in genetically driven neuromuscular disease. The company’s safety profile also remains encouraging, with 143 patient-years and no related serious TEAEs, while the decision to advance the 6.8 mg/kg dose appears validated by stronger strength, motor function, and patient-reported outcomes. Despite being a development-stage company with no revenue and ongoing cash burn, its differentiated pipeline and broader platform value across DM1, DMD, and eventually FSHD provide substantial long-term upside.

Bear case

Dyne Therapeutics is a pre-commercial biotech with no product revenue, ongoing cash burn, and a likely need to raise additional debt or equity, which raises dilution and financing-risk concerns. Its valuation case is also fragile because the HARBOR phase III failure in DM1 from competitor Novartis underscores how difficult it is to translate neuromuscular biology into clinically meaningful endpoints, while Dyne itself still faces substantial clinical and regulatory uncertainty across its pipeline. Even with some encouraging CNS-subscale movement in HARMONIA, the company confronts intense competition from better-resourced peers, unresolved IP protection risk, and meaningful execution risk that could leave the FORCE platform’s promise unproven.

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