enGene price target lowered to $19 from $34 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on enGene (ENGN) to $19 from $34 and keeps an Overweight rating on the shares after the company reported Q2 results and provided an update on the LEGEND study of detalimogene in non-muscle invasive bladder cancer. The firm has tempered peak detalimogene share within its model as it awaits further clarity on likely commercial uptake of competing programs, the analyst tells investors.