Neurogene’s Promising Outlook: Buy Rating Backed by Robust Financials and Upcoming Clinical Milestones

Neurogene (NGNE – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on March 24. Analyst Mani Foroohar from Leerink Partners reiterated a Buy rating on the stock and has a $72.00 price target.

Mani Foroohar has given his Buy rating due to a combination of factors that highlight Neurogene’s promising outlook. The company is poised to provide updates on its pivotal trial plans for NGN-401 in Rett syndrome in the first half of 2025, with additional clinical data expected in the second half of the year. This includes data from a cohort of girls aged 11 years and older, which could be pivotal in advancing their therapeutic pipeline.
Furthermore, Neurogene’s financial position is robust, with $312.4 million in cash and equivalents, which is projected to support operations until the second half of 2027. This financial stability is crucial for completing trial enrollments and scaling up manufacturing processes to support NGN-401, as well as further developing their gene therapy pipeline. These factors collectively underpin the optimistic outlook and justify the Buy rating.