Analyst Judah Frommer from Morgan Stanley maintained a Buy rating on RegenXBio (RGNX – Research Report) and keeping the price target at $22.00.
Judah Frommer has given his Buy rating due to a combination of factors that highlight RegenXBio’s strong potential in the gene therapy market. One of the primary reasons is the promising outlook for RGX-202 in treating Duchenne Muscular Dystrophy (DMD). The company’s strategic partnership with Nippon Shinyaku and the upfront monetization of RGX-121 and RGX-111 have reinforced confidence in RegenXBio’s ability to execute its business strategy effectively.
Additionally, RegenXBio’s robust cash position, bolstered by the $110 million upfront from the Nippon Shinyaku partnership and an anticipated $200 million milestone from AbbVie, positions the company well for future growth. The company’s deep manufacturing experience and capacity, along with validation from key partners, further support the potential success of its pipeline programs. These factors collectively suggest that RegenXBio is well-prepared to transition into a commercial gene therapy company by 2026, making it an attractive investment opportunity.
According to TipRanks, Frommer is an analyst with an average return of -4.1% and a 47.13% success rate. Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, Apellis Pharmaceuticals, and RegenXBio.
In another report released on February 20, Leerink Partners also maintained a Buy rating on the stock with a $24.00 price target.