BMO Capital analyst Keith Tapper lowered the firm’s price target on Neurogene (NGNE) to $45 from $60 but keeps an Outperform rating on the shares after its Q3 results. The stock is now trading “near cash” as the company disclosed a Serious Adverse Event in its NGN-401 high dose trial and the termination of Battens program that was announced on November 11, though the management does not expect a clinical hold after conversations with FDA, acknowledging safety of low-dose, the analyst tells investors in a research note.
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Read More on NGNE:
- Neurogene Inc. Faces Uncertainty with NGN-101 Program Amid FDA Challenges and Strategic Hurdles
- Neurogene price target lowered to $45 from $60 at BMO Capital
- Neurogene price target lowered to $46 from $72 at Baird
- Neurogene selloff on safety event an overreaction, says H.C. Wainwright
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