PepGen initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein initiated coverage of PepGen with a Buy rating and $26 price target. PepGen is a clinical-stage biotechnology company developing the next generation antisense oligonucleotide therapeutics to treat severe neuromuscular and neurologic diseases, Fein tells investors in a research note. The company’s lead candidate, PGN-EDO51, has shown significant exon skipping activity and dystrophin expression in cardiac muscle cells and in non-human primates, respectively, an unmet need in Duchenne muscular dystrophy therapy that differentiates the program from other competitor therapies such as Sarepta’s SRP5051, contends Fein.