H.C. Wainwright Reiterates Buy Rating on Regenxbio Inc. (RGNX)

H.C. Wainwright analyst Yi Chen reiterated a Buy rating and $26.00 price target on Regenxbio Inc. (NASDAQ: RGNX).

The analyst commented: "This morning, REGENXBIO announced that the Phase 2b/3 NAAVIGATE trial of surabgene lomparvovec (sura-vec or ABBV-RGX-314 via suprachoroidal delivery) has dosed the first patient with diabetic retinopathy (DR). According to the protocol, this multicenter, randomized, masked, and sham-controlled study will evaluate the safety and efficacy of sura-vec in subjects with non-proliferative DR (NPDR) without center-involved diabetic macular edema (CI-DME). Subjects will receive sura-vec at 1.0x1012 genome copies (GC)/eye (as evaluated as dose level 3 in the Phase 2 ALTITUDE trial) and short-course topical prophylactic steroids. The primary endpoint is ≥2-step improvement on the diabetic retinopathy severity scale (DRSS) at one year. The company expects to enroll approximately 135 patients in the U.S. for the Phase 2b portion. Of note, REGENXBIO will receive $100M from AbbVie (ABBV; not rated) for achieving the milestone of dosing the first patient. We note that current treatment paradigm for NPDR requires frequent dosing, which results in low patient adoption and potentially progressive vision-threatening complications. Therefore, a one-time, in-office treatment could significantly improve market adoption and improve long-term outcomes, in our view. REGENXBIO plans to present 2.5-year data from the long-term follow-up study of the ALTITUDE trial at the ASRS 44th annual meeting in July 2026. Five-year long-term follow-up data from the Phase 1/2a study of subretinal sura-vec for wet AMD will also be presented. The Phase 3 ATMOSPHERE and ASCENT trials of subretinal sura-vec in wet AMD are on track to report topline results in 4Q26. We reiterate our Buy rating and $26 PT."

For an analyst ratings summary and ratings history on Regenxbio Inc. click here. For more ratings news on Regenxbio Inc. click here.

Shares of Regenxbio Inc. closed at $11.98 yesterday.

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