Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Neurogene and keeping the price target at $45.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors including Neurogene’s strategic alignment with the FDA and its focus on durability and caregiver appeal. Despite Taysha’s recent market valuation increase, Kapoor sees Neurogene as undervalued, with a market cap significantly lower than its competitor. The emphasis on long-term effectiveness, safety, and multidomain improvement is seen as crucial for approval and adoption, which Neurogene’s 12-month FDA-cleared design addresses effectively.
Kapoor also notes that while Taysha’s interim results may appear advantageous, they might not provide a substantial lead over Neurogene. The feedback from Rett specialists suggests that Neurogene’s approach, particularly its intracerebroventricular delivery and comprehensive MECP2 construct, could be more appealing to caregivers and patients. This approach, combined with the potential for meaningful clinical outcomes, supports Kapoor’s Buy rating and a 12-month price target of $45 per share.