Judah Frommer, an analyst from Morgan Stanley, reiterated the Buy rating on RegenXBio (RGNX – Research Report). The associated price target remains the same with $24.00.
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Judah Frommer’s rating is based on several promising developments at RegenXBio. The company has reported progress in its gene therapy platform, with regulatory and clinical timelines remaining largely on track despite changes in leadership at the FDA. This stability is crucial as the company anticipates further data from its AFFINITY DUCHENNE trial, which could provide additional insights into the efficacy and safety of its treatments.
Furthermore, Frommer highlights the potential for significant non-dilutive financing, which could more than double RegenXBio’s existing cash reserves. This includes a possible $200 million from partner ABBV and the monetization of a priority review voucher if RGX-121 is approved. These financial prospects, combined with the evolving market landscape in gene therapy for Duchenne muscular dystrophy, underpin Frommer’s optimistic outlook and Buy rating for the stock.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $22.00 price target.