In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on PepGen Inc. (PEPG – Research Report), with a price target of $26.00.
Andrew Fein has given his Buy rating due to a combination of factors including the potential for PepGen Inc.’s drug candidate, PGN-EDO51, to demonstrate clinically meaningful dystrophin expression. The optimism for the drug’s performance is rooted in preclinical comparisons with a competitive therapy, where PGN-EDO51 exhibited significantly higher exon skipping and tissue concentration. These promising results suggest that the drug could achieve dystrophin expression levels that are not only detectable but potentially therapeutic. Moreover, repeat dosing in studies has indicated that the drug’s exon skipping activity increases, which could lead to sustained dystrophin production, further underlining the drug’s potential efficacy.
Fein also considers the favorable safety profile of PepGen’s platform, which allows for higher dosing without encountering the safety issues seen in other competing technologies. The company’s preclinical studies have shown impressive corrections of mis-splicing and myotonia, which are expected to translate effectively to human treatments. Additionally, the specificity of PepGen’s candidate for the mutant DMPK gene could result in higher splicing correction rates. This specificity, along with a strong correlation between splicing correction and myotonia improvement, positions PepGen favorably for achieving significant clinical outcomes, according to Fein’s assessment.
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PepGen Inc. (PEPG) Company Description:
PepGen Inc is a clinical-stage biotechnology company advancing the next generation of oligonucleotide therapeutics with the goal of transforming the treatment of severe neuromuscular and neurologic diseases.
