Neurogene, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Mitchell Kapoor from H.C. Wainwright maintained a Buy rating on the stock and has a $70.00 price target.
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Mitchell Kapoor has given his Buy rating due to a combination of factors that highlight Neurogene’s promising data and potential for growth. The recent data from NGN-401 showcases significant advancements in clinical outcomes, surpassing those of its competitor, Taysha Gene Therapies, despite Taysha’s higher market valuation. Neurogene’s NGN-401 has demonstrated more advanced and durable results, with patients achieving numerous milestones, indicating a strong efficacy profile.
Furthermore, the previous concerns regarding safety have been addressed with new data showing substantial multi-domain functional gains. The consistent improvement in patient outcomes and the increased probability of approval have led to a raised price target of $70. This reflects a renewed confidence in Neurogene’s program, suggesting that its current share price undervalues the company’s true potential, especially when compared to its peers.