enGene initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of enGene with an Outperform rating and $30 price target. The anlayst likes the company’s lead immunotherapeutic EG-70 for its “patient-friendliness,” manufacturing scalability and its “emerging efficacy/safety profile in the increasingly competitive” non-muscle invasive bladder cancer space. Compares indicate a “large valuation step-up” for enGene as EG-70 marks clinical progress, the analyst tells investors in a research note. The firm is a buyer of the stock ahead of next month’s interim data.