Analyst Andrew Fein of H.C. Wainwright maintained a Buy rating on PepGen Inc. (PEPG – Research Report), retaining the price target of $16.00.
Andrew Fein has given his Buy rating due to a combination of factors including the promising initial data from PepGen’s FREEDOM-DM1 trial. The trial demonstrated a significant increase in splicing correction after a single dose, which is predicted to have therapeutic significance and could translate into improved muscle strength. Despite some baseline imbalances, the data showed that all participants experienced more than a 10% change in the splicing index, which is notable for a single dose administration.
Furthermore, the safety profile of the PGN EDO-DM1 was reassuring, with most adverse events being mild to moderate. The absence of serious safety concerns, particularly with kidney biomarkers and electrolyte levels, supports the potential of the EDO platform. Looking ahead, the potential for higher doses to enhance splicing correction further strengthens the case for PepGen’s program to be best-in-class in the DM1 landscape.