Regenxbio price target lowered to $37 from $42 at Baird

Baird lowered the firm’s price target on Regenxbio to $37 from $42 and keeps an Outperform rating on the shares. The firm lowered their target on lower potential IP revenue but the EMBARK miss makes room for RGX-202 which they believe has a path to market, and now has a potentially better competitive opportunity to generate more robust data than Elevidys.