Judah Frommer, an analyst from Morgan Stanley, maintained the Buy rating on RegenXBio (RGNX – Research Report). The associated price target remains the same with $24.00.
Judah Frommer has given his Buy rating due to a combination of factors that highlight RegenXBio’s promising position in the biotechnology sector. One of the key reasons is the potential of RGX-202, which has shown promising early data, including differentiated safety and high microdystrophin expression, especially in older patients. This differentiation could position RGX-202 favorably in the market, particularly given the recent safety concerns surrounding a competitor’s product, Elevidys.
Furthermore, the design of RegenXBio’s pivotal program, which includes enrolling younger patients than those eligible for Elevidys, could allow for broader market penetration. The company’s proactive approach with a prophylactic immunosuppressive regimen has also been well-received, enhancing RGX-202’s safety profile. These factors, combined with the potential for accelerated approval and strong interest from the DMD community, underpin Frommer’s optimistic outlook on RegenXBio’s stock.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $50.00 price target.