Morgan Stanley analyst Judah Frommer has maintained their bullish stance on RGNX stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Judah Frommer has given his Buy rating due to a combination of factors surrounding RegenXBio’s strategic developments and partnerships. The extension of the PDUFA date for RGX-121, while a regulatory delay, allows for the inclusion of more comprehensive 12-month data, which aligns with previously submitted biomarker and neurodevelopmental data. This extension is seen as a positive step, as it provides the FDA with a more robust dataset to review, potentially increasing the likelihood of approval.
Additionally, RegenXBio’s partnership with Nippon Shinyaku, which includes significant upfront and milestone payments, strengthens its commercial prospects in the US and Asia. Despite the delay, the company’s commercial launch plans remain unaffected, and the retention of rights to a priority review voucher could be monetized if approval is granted. These factors contribute to the confidence in RegenXBio’s future performance, supporting the Buy rating.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $34.00 price target.