Analyst Yun Zhong of Wedbush reiterated a Buy rating on Passage Bio (PASG – Research Report), retaining the price target of $4.00.
Yun Zhong has given his Buy rating due to a combination of factors that highlight Passage Bio’s promising clinical progress and financial stability. The recent updates from the company indicate successful patient enrollment in their ongoing clinical trials, with plans to continue dosing to strengthen their data set for discussions with the FDA. This strategic approach is aimed at securing an expedited approval pathway, which is a positive indicator for the company’s future prospects.
Moreover, Passage Bio’s financial health appears robust, with a cash runway extending into the first quarter of 2027, providing confidence in their ability to support planned clinical activities. The company’s reported data on sustained PGRN expression and NfL reduction suggests potential efficacy in slowing neurodegeneration, which is encouraging for future outcomes. These factors collectively underpin Yun Zhong’s optimistic outlook and the Buy rating for Passage Bio’s stock.
According to TipRanks, Zhong is an analyst with an average return of -20.8% and a 30.77% success rate. Zhong covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, Rezolute, and Protagonist Therapeutics.