PepGen (NASDAQ:PEPG) Upgraded at Bank of America

Bank of America upgraded shares of PepGen (NASDAQ:PEPG) from an underperform rating to a neutral rating in a research note released on Tuesday, MarketBeat Ratings reports. Bank of America currently has $6.00 price target on the stock, up from their previous price target of $2.50.

Several other research analysts have also recently commented on PEPG. Wall Street Zen upgraded shares of PepGen from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Weiss Ratings raised shares of PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd. Finally, HC Wainwright reiterated a “buy” rating on shares of PepGen in a research note on Wednesday, September 9th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, PepGen currently has a consensus rating of “Moderate Buy” and an average price target of $9.80.

PepGen Stock Performance

Shares of PepGen stock opened at $5.04 on Tuesday. PepGen has a one year low of $1.31 and a one year high of $7.80. The company has a market cap of $349.07 million, a PE ratio of -4.71 and a beta of 2.02. The business has a 50-day simple moving average of $2.77 and a 200-day simple moving average of $2.97.

PepGen (NASDAQ:PEPG) last released its earnings results on Tuesday, November 10th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). On average, sell-side analysts predict that PepGen will post -1.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PepGen

Institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC boosted its holdings in PepGen by 260.9% in the second quarter. Squarepoint Ops LLC now owns 529,083 shares of the company’s stock valued at $952,000 after purchasing an additional 382,487 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in PepGen during the second quarter worth approximately $4,664,000. GSA Capital Partners LLP acquired a new stake in PepGen during the second quarter worth approximately $1,535,000. BlackRock Inc. acquired a new stake in PepGen during the second quarter worth approximately $2,348,000. Finally, Kalehua Capital Management LLC purchased a new stake in shares of PepGen during the 1st quarter worth approximately $1,770,000. Hedge funds and other institutional investors own 58.01% of the company’s stock.

Recent PepGen Headlines

Here are a few of the latest headlines about PEPG:

• Positive Sentiment: In the Phase 2 FREEDOM2-DM1 study, PGN-EDODM1 showed a mean 46.5% splicing correction, reported functional improvements and a favorable safety profile at the tested dose. The results helped spark a sharp rally and prompted one analyst to raise its rating and price target. PepGen’s stock skyrockets on record-breaking DM1 trial data
• Neutral Sentiment: Wedbush raised its price target from $4 to $10 and reiterated an “Outperform” rating, reflecting optimism about the data and future milestones. Wedbush stock recommendations
• Negative Sentiment: The offering issues 25 million shares at $5 each, diluting existing shareholders and potentially weighing on the stock. The clinical evidence also comes from only six treated patients, and a U.S. clinical hold remains in place, leaving significant uncertainty about the program’s path forward. PepGen: Stock Soars On DM1 Data, But Caution Warranted On Small Sample Sizes

About PepGen

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.