Wedbush lowered the firm’s price target on PepGen (PEPG) to $20 from $21 and keeps an Outperform rating on the shares. Most notable in PepGen’s Q4 update, management reiterated timing for 5mg/kg PGN-EDO51 proof-of-concept data in the CONNECT-1 study in Duchenne muscular dystrophy patients, the firm notes. Recent data from Sarepta’s (SRPT) SRP-5051 validates a next-gen product can elevate dystrophin expression but still leaves a window open for PepGen to show higher dystrophin expression at lower dosing, Wedbush adds.
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Read More on PEPG:
- PepGen Reports Fourth Quarter and Full Year 2023 Financial Results and Recent Corporate Developments
- PepGen announces clearance of CTA by U.K. MHRA to begin CONNECT2-EDO51
- PepGen Earns FDA Fast Track Status for Myotonic Dystrophy Drug
- PepGen receives U.S. Fast Track designation for PGN-EDODM1
- PepGen Inc. Announces Pricing for Its Offering
