In a report released on March 10, Mani Foroohar from Leerink Partners maintained a Buy rating on enGene Holdings (ENGN – Research Report), with a price target of $16.00.
Mani Foroohar has given his Buy rating due to a combination of factors that highlight enGene Holdings’ promising outlook. The company’s recent announcement of their 1Q25 results and pipeline updates, particularly the progress in the Ph1/2 LEGEND study of detalimogene, indicates a strong trajectory towards filing a Biologics License Application (BLA) by mid-2026. The expansion of trial sites in Europe and Asia and the ongoing enrollment in all four cohorts, including the pivotal cohort, demonstrate a robust clinical development strategy.
Financially, enGene Holdings shows resilience with a higher-than-expected R&D expenditure, reflecting their commitment to advancing their pipeline. The company ended the first quarter of 2025 with a substantial cash reserve of $272.8 million, which is anticipated to support their operations effectively. These factors, combined with the anticipated data updates and strategic focus on pivotal cohort data in the second half of 2025, underpin the optimistic outlook and justify the Buy rating.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $18.00 price target.
ENGN’s price has also changed moderately for the past six months – from $6.500 to $5.240, which is a -19.38% drop .