Analyst Mitchell Kapoor of H.C. Wainwright reiterated a Buy rating on Neurogene, retaining the price target of $45.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors that highlight Neurogene’s promising prospects. The company’s NGN-401 pivotal trial design aligns well with the efficacy observed so far, with Neurogene refining its trial plan to include a larger sample size and a comprehensive endpoint assessment. This trial design, coupled with FDA feedback, positions Neurogene favorably against competitors, particularly as it allows for the enrollment of younger patients, which could be a commercial advantage.
Additionally, the safety profile of the low-dose NGN-401 is notably strong, with no evidence of HLH or hyperinflammatory syndrome in the patients dosed at this level. This contrasts with the high-dose version, which had previously caused adverse events and impacted the stock negatively. The current low-dose approach appears significantly safer and, combined with its efficacy, supports a positive outlook for NGN-401 in treating Rett syndrome. These factors collectively underpin Kapoor’s confidence in maintaining a Buy rating for Neurogene, with a 12-month price target of $45.