Regenxbio Inc. (RGNX) PT Raised to $65 at Raymond James

February 11, 2021 4:00 PM EST
Get Alerts RGNX Hot Sheet
Price: $35.17 -0.03%

Rating Summary:
    8 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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Raymond James analyst Dane Leone raised the price target on Regenxbio Inc. (NASDAQ: RGNX) to $65.00 (from $60.00) while maintaining a Strong Buy rating.

The analyst commented, "On Thursday during the WORLDsymposium, RGNX presented clinical results from the RGX-121 study of patients with severe Hunter Syndrome. The data had been released earlier in the week (Link to Note), but the presentation at the conference included context and Q&A with the clinical community. Furthermore, over the course of the week we have gotten a sense of the competitive landscape for new therapies targeting Hunter Syndrome, and have gained conviction that RGX-121 may be a next generation front-line therapy. We have now incorporated RGX-121 for Hunter Syndrome into our financial forecasts and model ~$326 in sales during 2030, which supports increasing our price target to $65 (versus $60 prior) and reiterating our Strong Buy rating on RGNX."

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