enGene initiated with an Overweight at Piper Sandler

Piper Sandler analyst Allison Bratzel initiated coverage of enGene (ENGN) with an Overweight rating and $26 price target The non-muscle invasive bladder cancer space is poised for growth as novel intravesical therapies come to market, and enGene’s non-viral gene therapy asset detalimogene is well positioned to be an early-line treatment choice, the analyst tells investors in a research note. The firm says the company’s data to date show an approvable efficacy profile, comparable to other developmental agents and “very clean” safety. It models enGene’s U.S. revenue commencing in 2027, growing to greater than $500M by 2033.