PepGen (NASDAQ:PEPG) Given New $10.00 Price Target at Wedbush

PepGen (NASDAQ:PEPG) had its target price raised by Wedbush from $4.00 to $10.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

PEPG has been the subject of a number of other reports. Wall Street Zen raised PepGen from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. HC Wainwright reaffirmed a “buy” rating on shares of PepGen in a research report on Wednesday, September 9th. Bank of America raised PepGen from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $2.50 to $6.00 in a research report on Tuesday. Finally, Weiss Ratings upgraded PepGen from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

PepGen Stock Up 14.1%

NASDAQ PEPG opened at $5.26 on Wednesday. PepGen has a 52 week low of $1.31 and a 52 week high of $7.80. The stock has a market capitalization of $364.31 million, a PE ratio of -4.92 and a beta of 2.02. The firm has a 50 day moving average of $2.74 and a two-hundred day moving average of $2.98.

PepGen (NASDAQ:PEPG) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). On average, equities research analysts expect that PepGen will post -1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commodore Capital LP grew its position in PepGen by 31.6% during the 1st quarter. Commodore Capital LP now owns 4,475,000 shares of the company’s stock worth $7,921,000 after purchasing an additional 1,075,000 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of PepGen in the second quarter valued at about $4,664,000. BlackRock Inc. purchased a new stake in shares of PepGen in the second quarter valued at about $2,348,000. Kalehua Capital Management LLC purchased a new stake in shares of PepGen in the first quarter valued at about $1,770,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of PepGen during the second quarter worth about $1,535,000. 58.01% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about PepGen

These are some of the PEPG headlines that stood out recently:

• Positive Sentiment: In the Phase 2 FREEDOM2-DM1 study, PGN-EDODM1 produced an average 46.5% splicing correction and improvements across functional measures at the 10 mg/kg dose. The results drew strong investor attention and helped drive the stock’s surge. PepGen Announces Positive Phase 2 FREEDOM2-DM1 Results
• Neutral Sentiment: PepGen reported $104.8 million in cash, which provides funding for development, and proposed a $125 million public stock offering that could add capital. PepGen reports trial results and cash position
• Negative Sentiment: The proposed stock offering could dilute existing shareholders. PepGen also reported a quarterly loss of $0.28 per share, slightly wider than analysts’ $0.27 estimate. PepGen launches a public stock offering

PepGen Company Profile

PepGen Inc. is a clinical-stage biotechnology company developing genetic medicines for serious neuromuscular diseases. The company’s technology is designed to improve the delivery of oligonucleotide therapeutics into skeletal and cardiac muscle, with the goal of addressing diseases caused by genetic mutations or abnormal RNA processing. PepGen’s platform, known as Enhanced Delivery Oligonucleotides (EDO), combines therapeutic oligonucleotides with proprietary peptides intended to facilitate their distribution into muscle tissue.