Leerink Partners analyst Mani Foroohar has maintained their bullish stance on RGNX stock, giving a Buy rating on June 6.
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Mani Foroohar has given his Buy rating due to a combination of factors that position RegenXBio favorably in the market. The recent safety concerns surrounding SRPT’s Elevidys, which led to a suspension of shipments for non-ambulatory patients, have highlighted the potential for RegenXBio’s gene therapy to fill a significant unmet need in the Duchenne muscular dystrophy (DMD) space. RegenXBio’s therapy shows promising functional data and a clean safety profile, with no serious adverse events reported in the initial patients treated, making it a strong candidate for future approval.
Furthermore, while there may be concerns about regulatory conservatism following the Elevidys incident, Foroohar believes this situation actually underscores the opportunity for RegenXBio. The incident with Elevidys emphasizes the necessity for effective and safe treatments in DMD, potentially accelerating RegenXBio’s pathway to approval. This combination of superior data and an advantageous market position underpins Foroohar’s Buy rating for RegenXBio.
In another report released on June 6, H.C. Wainwright also reiterated a Buy rating on the stock with a $34.00 price target.