Passage Bio’s Strategic Positioning and Growth Potential: A Buy Rating Analysis

TD Cowen analyst Brendan Smith has maintained their bullish stance on PASG stock, giving a Buy rating today.

Brendan Smith has given his Buy rating due to a combination of factors that highlight Passage Bio’s strategic positioning and potential for future growth. The company has made significant strides in its clinical programs, particularly with the PBFT02 treatment for FTD-GRN patients. The anticipated data readouts in the second half of 2025 are expected to be pivotal, as they will provide insights into the treatment’s efficacy and safety, which are crucial for assessing the drug’s therapeutic potential.
Additionally, Passage Bio’s recent restructuring efforts, including a shift to an outsourced analytical testing model and a substantial reduction in headcount, have extended the company’s cash runway into the first quarter of 2027. This financial strategy provides the company with the necessary resources to continue its clinical trials and seek regulatory feedback, thereby enhancing its ability to achieve long-term objectives. These factors collectively underpin Smith’s optimistic outlook on Passage Bio’s stock.

According to TipRanks, Smith is an analyst with an average return of -8.8% and a 28.42% success rate. Smith covers the Healthcare sector, focusing on stocks such as Azenta, Halozyme, and Repligen.

In another report released today, Canaccord Genuity also reiterated a Buy rating on the stock with a $13.00 price target.