Analyst Alec Stranahan of Bank of America Securities maintained a Buy rating on RegenXBio (RGNX – Research Report), retaining the price target of $22.00.
Alec Stranahan has given his Buy rating due to a combination of factors that position RegenXBio favorably in the market. One significant reason is the safety profile of RegenXBio’s RGX-202 gene therapy, which has not shown any adverse events similar to those seen with competitors’ treatments. This safety aspect enhances its competitive positioning, especially in the Duchenne muscular dystrophy (DMD) landscape where safety is paramount for patients and families.
Additionally, the market outlook for RegenXBio is promising due to the potential slowdown in the commercial rollout of a competitor’s product, which could expand the market opportunity for RGX-202 if approved. The company’s gene therapy also demonstrates molecular differentiation with no liver injuries reported, and it boasts higher manufacturing consistency and purity. Furthermore, the initial functional data for RGX-202 has shown strong potential, with improvements in key functional endpoints, suggesting a best-in-class capability. These factors collectively support the Buy rating and the optimistic price objective of $22.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $24.00 price target.