Morgan Stanley analyst Judah Frommer maintained a Buy rating on RegenXBio (RGNX – Research Report) today and set a price target of $24.00.
Judah Frommer has given his Buy rating due to a combination of factors including the promising progress of RegenXBio’s clinical programs and its solid financial position. The company has reported significant advancements in its DMD program for RGX-202, with enrollment in the pivotal study nearing 50% completion and potential to exceed expectations as more sites become active.
Additionally, RegenXBio’s strong capital position is bolstered by a cash balance and a recent $110 million upfront payment, which is expected to fund operations into the second half of 2026. Management is optimistic about extending this financial runway into 2027 through various milestones, including a $200 million payment after dosing the first patient in the RGX-314 program and proceeds from a PRV following anticipated RGX-121 approval. These factors contribute to the company’s robust position to commercialize its products and complete pivotal study readouts.