Passage Bio, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yun Zhong from Wedbush maintained a Buy rating on the stock and has a $40.00 price target.
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Yun Zhong has given his Buy rating due to a combination of factors that highlight the potential of Passage Bio’s PBFT02 treatment. Despite the negative results from Alector’s study on latozinemab, Zhong does not see this affecting Passage Bio’s prospects. The promising data from Passage Bio’s ongoing Ph1/2 study, which shows significant restoration of PGRN levels in both plasma and CSF, suggests that PBFT02 could have a meaningful impact on treating frontotemporal dementia caused by progranulin gene mutations.
Furthermore, the reduction in the annual rate of change in plasma neurofilament light chain (NfL) levels in patients treated with PBFT02 is encouraging. This data suggests a potential clinical benefit in slowing neurodegeneration. With upcoming clinical updates expected in the first half of 2026, Zhong remains optimistic about the treatment’s future, particularly if the robust results are replicated in more patients at higher doses. This optimism is further supported by the potential for an expedited regulatory pathway with the FDA, should the promising results continue.
Zhong covers the Healthcare sector, focusing on stocks such as MannKind, Protagonist Therapeutics, and Ascendis Pharma. According to TipRanks, Zhong has an average return of -10.1% and a 41.77% success rate on recommended stocks.