Mitchell Kapoor, an analyst from H.C. Wainwright, reiterated the Buy rating on Neurogene. The associated price target remains the same with $65.00.
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Mitchell Kapoor’s rating is based on several promising developments surrounding Neurogene’s NGN-401 therapy. The initiation of patient dosing in the Embolden trial, which is a pivotal study designed to support the approval of NGN-401 for treating Rett syndrome, marks a significant milestone. This trial is strategically aligned with the FDA for a potential Biologics License Application, highlighting the therapy’s potential to address a critical unmet medical need.
Furthermore, Neurogene’s expansion of its clinical trial sites and the establishment of a cutting-edge manufacturing facility underscore its commitment to advancing NGN-401’s development. The therapy has received multiple regulatory designations, including Fast Track and Orphan Drug status, which could expedite its review process. These factors, combined with the anticipation of positive interim data from ongoing trials, contribute to Kapoor’s optimistic outlook and Buy rating for Neurogene’s stock.