Goldman Sachs downgraded Regenxbio (RGNX) to Neutral from Buy with a price target of $14, down from $38. The firm has questions over the ultimate appeal of gene therapy in wet age-related macular degeneration given the largely elderly patient population and increasing injection-free period of existing anti-VEGF therapy, which it says offer significantly more favorable pricing. Goldman also sees “waning differentiation” for Regenxbio versus competitor programs given the invasive administration methods used for ABBV-RGX-314.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RGNX:
- Regenxbio resumed with an Outperform at Raymond James
- Biotech Alert: Searches spiking for these stocks today
- Morning Movers: H&E skyrockets following deal to be acquired by United Rentals
- RegenXBio Partners with Nippon Shinyaku on Gene Therapies
- Regenxbio, Nippon Shinyaku enter commercialization pact for RGX-121
Questions or Comments about the article? Write to editor@tipranks.com