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Promising Prospects for PepGen Inc.: Buy Rating Affirmed Amid Positive DM1 Treatment Developments

Promising Prospects for PepGen Inc.: Buy Rating Affirmed Amid Positive DM1 Treatment Developments

PepGen Inc. (PEPGResearch Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 24. Analyst Joseph Schwartz from Leerink Partners reiterated a Buy rating on the stock and has a $20.00 price target.

Joseph Schwartz has given his Buy rating due to a combination of factors that highlight PepGen Inc.’s promising developments in their treatment for myotonic dystrophy type 1 (DM1). The recent data from single-dose trials of PGN-EDODM1 indicate that PepGen’s approach is at least on par with, if not superior to, current leaders in the field. This is evidenced by significant splicing correction and improvements in functional tests, which are comparable to results seen with longer-term dosing from competitors.
Moreover, the safety profile of PGN-EDODM1 in DM1 appears favorable, addressing previous concerns related to PepGen’s challenges in Duchenne muscular dystrophy (DMD). The absence of adverse events related to electrolytes or renal function in the DM1 trials is particularly encouraging. Schwartz sees further potential for PepGen’s stock as the company plans to release additional data on both single and multiple dose regimens in the coming years, which could further validate the efficacy and safety of their treatment approach.

According to TipRanks, Schwartz is a 5-star analyst with an average return of 12.7% and a 42.74% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Insmed, and Ascendis Pharma.

In another report released on February 25, H.C. Wainwright also reiterated a Buy rating on the stock with a $16.00 price target.

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