UBS analyst David Dai maintained a Hold rating on enGene Holdings today and set a price target of $10.00.
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David Dai has given his Hold rating due to a combination of factors related to enGene Holdings’ recent trial data and market positioning. The updated results from the Phase 2 LEGEND trial showed an improvement in complete response rates for their lead program, detalimogene, in treating high-risk BCG-unresponsive NMIBC. However, while these results are competitive with existing therapies, they fall short compared to some competitors like CGON’s cretostimogene and JNJ’s Inlexzo.
Despite the improved data, there is still uncertainty due to the immaturity of the results, as many patients have not yet reached the 6-month follow-up. Additionally, the lack of near-term catalysts and the later expected market entry compared to competitors contribute to the Hold rating. The stock is trading at a discount, but the commercial adoption remains uncertain, leading to a cautious outlook despite an increased price target.
According to TipRanks, Dai is an analyst with an average return of -5.6% and a 44.44% success rate. Dai covers the Healthcare sector, focusing on stocks such as Summit Therapeutics, Telix Pharmaceuticals, and IDEAYA Biosciences.