Leerink Partners analyst Mani Foroohar has maintained their bullish stance on NGNE stock, giving a Buy rating yesterday.
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Mani Foroohar has given his Buy rating due to a combination of factors that highlight Neurogene’s promising prospects in the treatment of Rett Syndrome. The company’s pivotal study design for NGN-401 aligns with FDA expectations, featuring a single-arm, baseline control study targeting Rett females aged 3 and above. This approach, which includes a robust primary endpoint based on CGI-I improvement and developmental milestone gains, positions Neurogene favorably in comparison to competitors.
Furthermore, the early results from the low dose Ph1/2 cohort are encouraging, with patients showing significant skill gains and achieving favorable CGI-I scores. The absence of adverse effects such as hemophagocytic lymphohistiocytosis in patients dosed at 1E15 vg further supports the safety profile of NGN-401. Additionally, Neurogene’s strategic capital reallocation to the pivotal trial and updated cash runway guidance demonstrate a strong commitment to advancing their clinical program, reinforcing the Buy rating.
NGNE’s price has also changed moderately for the past six months – from $22.280 to $14.950, which is a -32.90% drop .