Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on RegenXBio and keeping the price target at $34.00.
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Yi Chen has given his Buy rating due to a combination of factors surrounding RegenXBio’s promising developments in their gene therapy treatments. The extension of the FDA’s review timeline for RGX-121, a pioneering gene therapy for Mucopolysaccharidosis II, signifies the agency’s thorough consideration of the longer-term clinical data submitted by the company. This extension does not negatively impact the valuation, and the therapy’s multiple designations from the FDA, including Orphan Drug and Fast Track, highlight its potential significance.
Furthermore, RegenXBio’s RGX-202 for Duchenne muscular dystrophy has shown positive interim data, indicating consistent benefits and functional improvements in patients. The expected completion of the pivotal trial and potential accelerated approval submission in 2026 further bolster confidence in the company’s pipeline. The strategic commercial plans, including manufacturing and supply chain management, along with potential financial benefits from royalties and milestone payments, contribute to the optimistic outlook and the Buy rating.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $24.00 price target.