Regenxbio reinstated with an Outperform at Raymond James

Raymond James analyst Danielle Brill reinstated coverage of Regenxbio (RGNX) with an Outperform rating and $18 price target Raymond James continues to see multiple growth-driving opportunities from Regenxbio’s pipeline, and thinks the stock is undervalued for RGX-314 in wet AMD and diabetic retinopathy and RGX-121 in Hunter Syndrome, the analyst tells investors in a research note. Following the broad approval of Sarepta’s (SRPT) DMD gene therapy in June, the firm sees a similar regulatory path for RGX-202, which represents an “interesting” commercial opportunity, even if the asset only captures about 15% of the population.