Neurogene’s Promising Trial Design and Safety Profile Earns Buy Rating from Analyst Mitchell Kapoor

Neurogene (NGNE – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on the stock and has a $45.00 price target.

Mitchell Kapoor has given his Buy rating due to a combination of factors related to Neurogene’s promising trial design and safety profile. The company has unveiled a registrational trial design for NGN-401, which extends the current Phase 1/2 study into a pivotal single-arm trial. This trial aims to evaluate a composite endpoint involving a CGI-I score of ≤3 and the achievement of at least one developmental milestone from a list of 28, with assessments conducted through standardized video recordings and verified by independent raters. Neurogene’s trial design, which includes an early patient enrollment age and a potential head start in trial initiation compared to its competitor Taysha, positions it favorably in the market.
Furthermore, Neurogene’s safety update indicates a favorable profile for the low-dose NGN-401, with no evidence of severe adverse events like HLH or hyperinflammatory syndrome among the 10 patients dosed at the 1E15 vg level. The low-dose option appears significantly safer compared to the high-dose, which previously led to serious adverse events and a decline in stock value. The manageable nature of the adverse events associated with the low-dose, which are typical of adeno-associated viral vectors and responsive to treatment, further supports Kapoor’s confidence in the safety and potential success of NGN-401, reinforcing his Buy rating with a 12-month price target of $45.

Kapoor covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Summit Therapeutics, and Ionis Pharmaceuticals. According to TipRanks, Kapoor has an average return of -19.6% and a 30.50% success rate on recommended stocks.