TD Cowen analyst Brendan Smith has maintained their bullish stance on PASG stock, giving a Buy rating today.
Brendan Smith has given his Buy rating due to a combination of factors that highlight Passage Bio’s strategic positioning and potential for future growth. The company’s restructuring efforts, including a significant reduction in headcount and a shift to outsourced analytical services, have extended its cash runway into the first quarter of 2027. This financial stability provides Passage Bio with the necessary resources to advance its clinical programs and seek regulatory feedback on pivotal trial designs.
Additionally, the anticipated data readouts in the second half of 2025 are expected to be significant catalysts for the company. Passage Bio plans to present 12-month data from its first cohort of FTD-GRN patients treated with PBFT02, which is anticipated to demonstrate sustained PGRN expression levels. The ongoing evaluation of different dosing regimens aims to better understand the therapeutic window and dose response, potentially enhancing the clinical viability of PBFT02. These developments collectively contribute to a positive outlook for Passage Bio’s stock.
In another report released today, Wedbush also reiterated a Buy rating on the stock with a $4.00 price target.