PepGen price target raised to $18 from $12 at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein raised the firm’s price target on PepGen (PEPG) to $18 from $12 and keeps a Buy rating on the shares. The firm believes Novartis’ (NVS) acquisition of Avidity (RNA) “has reshaped sentiment across the neuromuscular oligonucleotide space.” PepGen’s recent rally still leaves the stock at a “steep discount” to peers despite delivering “best-in-class” myotonic dystrophy type 1 data, the analyst tells investors in a research note.