Baird lowered the firm’s price target on Neurogene (NGNE) to $46 from $72 and keeps an Outperform rating on the shares. The firm updated its model for 3Q24 earnings and to further take into consideration the update of a trial participant in critical condition after receiving the high dose of NGN-401. The lower price target reflects lowering its projected share of the Rett syndrome gene therapy market that goes to NGN-401 to 50%.
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