enGene price target raised to $21 from $18 at Citizens JMP

Citizens JMP analyst Silvan Tuerkcan raised the firm’s price target on enGene (ENGN) to $21 from $18 and keeps an Outperform rating on the shares. Citizens was impressed by the speed of enrollment in enGene’s LEGEND trial and the substantially higher complete response rate following protocol amendments that harmonized LEGEND with other newer non-muscle invasive bladder cancer assets, the analyst tells investors in a research note. EnGene has demonstrated that detalimogene is comparable to best-in-class assets on six-month CR, and the update puts detalimogene in the range of the most efficacious therapies, removing the efficacy barrier, the firm says.