PepGen Inc. (PEPG – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 14. Analyst Joseph Schwartz from Leerink Partners reiterated a Buy rating on the stock and has a $22.00 price target.
Joseph Schwartz has given his Buy rating due to a combination of factors including PepGen Inc.’s steady progress in their Duchenne muscular dystrophy (DMD) and myotonic dystrophy type 1 (DM1) programs. Schwartz sees the company nearing a potential pivotal moment with the anticipated release of initial data from their clinical studies, which could validate the impressive preclinical results they have achieved with their EDO platform in treating these significant muscle diseases.
Additionally, PepGen Inc. has completed the enrollment for their CONNECT1-EDO51 study’s 5 mg/kg cohort, and Schwartz anticipates that the upcoming data release in mid-2024 will likely confirm initial safety and efficacy outcomes that align with the company’s forecasts. This, combined with the initiation of the Phase 2 CONNECT2-EDO51 study and plans for international expansion, paints a promising picture for the company’s prospects in the near future. Furthermore, Schwartz finds the company’s financial health to be sound, with a net debt to total capital ratio of 0%, underscoring a stable fiscal position to support ongoing research and development efforts.
According to TipRanks, Schwartz is a 2-star analyst with an average return of 0.3% and a 39.15% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Applied Therapeutics, Edgewise Therapeutics, and Regulus.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $20.00 price target.
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PepGen Inc. (PEPG) Company Description:
PepGen Inc is a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapeutics with the goal of transforming the treatment of severe neuromuscular and neurologic diseases.
