enGene (ENGN): Advancing Detalimogene Toward Commercialization in NMIBC with Practical Competitive Edge Justifies Buy Rating and $25 Target

Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on enGene Holdings and keeping the price target at $25.00.

Andres Y. Maldonado has given his Buy rating due to a combination of factors that underscore enGene’s strengthening competitive position in non–muscle invasive bladder cancer (NMIBC). He notes that detalimogene has progressed from an early-stage asset to a late-stage candidate with completed enrollment in its pivotal LEGEND study, providing a more concrete basis to assess its role in daily clinical practice. The emerging efficacy profile appears aligned with current standards for BCG-unresponsive disease, while its safety and administration characteristics mirror how urologists already manage intravesical therapy. In contrast to rival approaches that introduce added complexity through specialized handling, storage, or procedural demands, detalimogene can be delivered in a more routine “BCG-like” manner, which he views as a practical edge that should matter at scale.
Moreover, Maldonado highlights that the FDA’s inclusion of enGene in a CMC Development and Readiness Pilot signals regulatory confidence in the company’s manufacturing and commercialization preparation. He emphasizes that real-world usability and seamless integration into urology workflows are likely to be as important as marginal efficacy differences, especially given clinician focus on durability benchmarks and cost. With funding secured past the anticipated BLA filing, he believes enGene is positioned to navigate the transition from development to commercialization without near-term balance sheet overhang. Taken together, these factors support his view that detalimogene can capture meaningful share in a crowded NMIBC market, justifying a Buy rating and a $25 price target for ENGN shares.

According to TipRanks, Y. Maldonado is a 4-star analyst with an average return of 13.4% and a 50.27% success rate. Y. Maldonado covers the Healthcare sector, focusing on stocks such as Protara Therapeutics, Syndax Pharmaceuticals, and Candel Therapeutics.

In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $19.00 price target.