PepGen (NASDAQ:PEPG) Given New $15.00 Price Target at Guggenheim

PepGen (NASDAQ:PEPG) had its target price increased by Guggenheim from $7.00 to $15.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Wall Street Zen raised PepGen from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. HC Wainwright reissued a “buy” rating on shares of PepGen in a report on Wednesday, September 9th. Bank of America raised shares of PepGen from an “underperform” rating to a “neutral” rating and increased their target price for the company from $2.50 to $6.00 in a research report on Tuesday. Wedbush increased their price objective on shares of PepGen from $4.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings raised shares of PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PepGen presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

PepGen Trading Down 13.5%

NASDAQ:PEPG opened at $4.36 on Friday. PepGen has a 1 year low of $1.31 and a 1 year high of $7.80. The stock has a 50-day moving average price of $2.80 and a two-hundred day moving average price of $2.97. The stock has a market cap of $301.97 million, a price-to-earnings ratio of -4.07 and a beta of 2.02.

PepGen (NASDAQ:PEPG) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Sell-side analysts forecast that PepGen will post -1.13 earnings per share for the current year.

Hedge Funds Weigh In On PepGen

Several institutional investors and hedge funds have recently modified their holdings of the stock. AWM Investment Company Inc. lifted its holdings in shares of PepGen by 201.1% during the 3rd quarter. AWM Investment Company Inc. now owns 1,806,419 shares of the company’s stock valued at $4,372,000 after buying an additional 1,206,419 shares during the period. Marshall Wace LLP grew its holdings in PepGen by 136.3% during the third quarter. Marshall Wace LLP now owns 2,049,112 shares of the company’s stock valued at $4,959,000 after purchasing an additional 1,182,120 shares during the period. Empowered Funds LLC purchased a new stake in PepGen in the third quarter worth about $205,000. Palumbo Wealth Management LLC bought a new stake in PepGen during the 3rd quarter worth approximately $288,000. Finally, Brendel Financial Advisors LLC purchased a new position in shares of PepGen in the third quarter valued at about $306,000. 58.01% of the stock is currently owned by institutional investors.

PepGen Company Profile

PepGen is a clinical-stage biotechnology company developing oligonucleotide medicines for people with neuromuscular diseases. Its Enhanced Delivery Oligonucleotide (EDO) platform is designed to help deliver these medicines to muscle tissue. The company’s pipeline includes PGN-EDO51, an investigational exon-skipping therapy for Duchenne muscular dystrophy in patients whose genetic mutations are amenable to exon 51 skipping, and PGN-EDODM1, an investigational candidate for myotonic dystrophy type 1.