PepGen (NASDAQ:PEPG) Price Target Raised to $20.00

by · The Cerbat Gem

PepGen (NASDAQ:PEPG – Get Free Report) had its price objective boosted by equities research analysts at HC Wainwright from $18.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 304.86% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PepGen in a research report on Wednesday, October 8th. Stifel Nicolaus upped their price objective on PepGen from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Wedbush upped their target price on PepGen from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. Finally, Guggenheim reissued a “buy” rating and set a $6.00 price target on shares of PepGen in a research note on Wednesday, September 24th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, PepGen has an average rating of “Hold” and an average target price of $10.00.

View Our Latest Report on PEPG

PepGen Stock Down 3.7%

Shares of NASDAQ:PEPG traded down $0.19 during trading on Thursday, reaching $4.94. 203,835 shares of the company traded hands, compared to its average volume of 1,904,633. The firm has a market cap of $162.03 million, a P/E ratio of -1.67 and a beta of 1.95. PepGen has a 1-year low of $0.88 and a 1-year high of $6.85. The firm has a fifty day simple moving average of $3.87 and a 200 day simple moving average of $2.24.

PepGen (NASDAQ:PEPG – Get Free Report) last issued its earnings results on Wednesday, November 12th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.11. As a group, research analysts anticipate that PepGen will post -2.73 EPS for the current year.

Insider Activity

In other PepGen news, major shareholder Science Enterprises Plc Oxford purchased 200,000 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $3.20 per share, for a total transaction of $640,000.00. Following the purchase, the insider directly owned 4,955,388 shares of the company’s stock, valued at $15,857,241.60. This trade represents a 4.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On PepGen

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in PepGen by 88.7% during the third quarter. Vanguard Group Inc. now owns 1,768,356 shares of the company’s stock worth $8,170,000 after buying an additional 831,333 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of PepGen by 68.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,350,000 shares of the company’s stock worth $1,897,000 after acquiring an additional 550,000 shares during the period. Woodline Partners LP acquired a new position in shares of PepGen in the first quarter worth about $1,097,000. Monashee Investment Management LLC purchased a new stake in shares of PepGen during the 3rd quarter worth about $1,386,000. Finally, RBF Capital LLC acquired a new stake in shares of PepGen during the 2nd quarter valued at about $111,000. 58.01% of the stock is currently owned by hedge funds and other institutional investors.

PepGen Company Profile

(Get Free Report)

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.

Further Reading