RegenXbio's Potential Blockbuster: Analyst is Bullish On Stock Citing Potential Gains From AAV Gene Therapies Resurgence
Portfolio Pulse from Vandana Singh
Baird has initiated coverage on RegenXbio Inc (NASDAQ:RGNX) with an Outperform rating and a price target of $42, citing potential gains from AAV gene therapies resurgence. The analyst believes RegenXbio can be a leader in the AAV gene therapy space and that the market underappreciates the opportunity for its partnered ABBV-RGX-314 with AbbVie Inc (NYSE:ABBV). Regenx could also compete with Sarepta Therapeutic Inc's (NASDAQ:SRPT) SRP-9001 in the DMD market.
June 20, 2023 | 6:43 pm
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POSITIVE IMPACT
AbbVie Inc's partnership with RegenXbio on ABBV-RGX-314 has demonstrated promising results, potentially leading to blockbuster sales in the future.
AbbVie's partnership with RegenXbio on ABBV-RGX-314 has shown promising results, with some patients experiencing years of injection-free living for neovascular (wet) Age-related macular degeneration. The Baird analyst believes the market underappreciates the opportunity for 314 to carve out a well-described subgroup of patients that could lead to blockbuster sales. This positive news is likely to have a short-term positive impact on AbbVie's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Baird initiates coverage on RegenXbio with an Outperform rating and a price target of $42, citing potential gains from AAV gene therapies resurgence and partnerships with AbbVie.
The Baird analyst's Outperform rating and $42 price target for RegenXbio indicate a positive outlook for the stock. The analyst believes RegenXbio can be a leader in the AAV gene therapy space and that the market underappreciates the opportunity for its partnered ABBV-RGX-314 with AbbVie. This positive sentiment from a reputable analyst is likely to have a short-term positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Regenx could be the first company to report out microdystrophin expression data from its DMD candidate that could be competitive with Sarepta Therapeutic Inc's SRP-9001 later this year.
The Baird analyst notes that Regenx could be the first company to report out microdystrophin expression data from its DMD candidate that could be competitive with Sarepta Therapeutic Inc's SRP-9001 later this year. This increased competition in the DMD market could have a short-term negative impact on Sarepta Therapeutic's stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50