PepGen (NASDAQ:PEPG) Earns Buy Rating from HC Wainwright

PepGen (NASDAQ:PEPG)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $26.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 361.81% from the company’s current price.

A number of other brokerages have also recently issued reports on PEPG. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of PepGen in a research report on Wednesday, July 31st. Bank of America downgraded PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research note on Wednesday, July 31st.

PepGen Stock Down 21.7 %

Shares of NASDAQ PEPG opened at $5.63 on Friday. The stock has a market cap of $183.48 million, a PE ratio of -1.71 and a beta of 1.76. PepGen has a 52-week low of $3.72 and a 52-week high of $19.30. The business has a 50-day moving average price of $8.58 and a 200 day moving average price of $12.26.

PepGen (NASDAQ:PEPG) last announced its earnings results on Thursday, August 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). Sell-side analysts anticipate that PepGen will post -3.16 earnings per share for the current year.

Hedge Funds Weigh In On PepGen

A number of large investors have recently modified their holdings of PEPG. RA Capital Management L.P. grew its holdings in shares of PepGen by 31.5% in the 1st quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock worth $157,136,000 after acquiring an additional 2,557,593 shares during the period. Vanguard Group Inc. grew its holdings in shares of PepGen by 68.0% in the 1st quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock worth $12,502,000 after acquiring an additional 344,266 shares during the period. Artal Group S.A. acquired a new stake in shares of PepGen in the 1st quarter worth approximately $2,940,000. Janus Henderson Group PLC grew its holdings in shares of PepGen by 18.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock worth $17,225,000 after acquiring an additional 178,438 shares during the period. Finally, Sofinnova Investments Inc. grew its holdings in PepGen by 11.4% during the 2nd quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock valued at $8,956,000 after buying an additional 57,504 shares during the last quarter. 58.01% of the stock is owned by hedge funds and other institutional investors.

About PepGen

PepGen Inc, a clinical-stage biotechnology company, focuses on the development of oligonucleotide therapeutics for use in the treatment of severe neuromuscular and neurologic diseases. Its lead product candidate is PGN-EDO51, an EDO peptide that is in Phase 2 clinical trial to treat Duchenne muscular dystrophy (DMD) patients.