PepGen (NASDAQ:PEPG) Given New $15.00 Price Target at Guggenheim

Key Points

• Guggenheim raised its PepGen price target to $15 from $7 and maintained a Buy rating, implying about 198% upside from the stock’s current price.
• Analyst views are mixed but lean positive: PepGen has a Moderate Buy consensus rating and an average price target of $11.40, based on five Buy, one Hold, and one Sell rating.
• PepGen reported quarterly EPS of -$0.28, slightly missing analysts’ -$0.27 estimate; shares opened at $5.04 and were down 4.2% on Friday.

PepGen (NASDAQ:PEPG - Get Free Report) had its target price increased by investment analysts at Guggenheim from $7.00 to $15.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price target would suggest a potential upside of 197.62% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen raised PepGen from a "sell" rating to a "hold" rating in a research report on Saturday, November 7th. Bank of America upgraded shares of PepGen from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $2.50 to $6.00 in a report on Tuesday. Weiss Ratings raised shares of PepGen from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 22nd. Wedbush increased their price target on shares of PepGen from $4.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, HC Wainwright restated a "buy" rating on shares of PepGen in a report on Wednesday, September 9th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PepGen presently has an average rating of "Moderate Buy" and an average price target of $11.40.

PepGen Trading Down 4.2%

Shares of NASDAQ PEPG opened at $5.04 on Friday. The stock has a market capitalization of $349.07 million, a PE ratio of -4.71 and a beta of 2.02. The stock's fifty day simple moving average is $2.77 and its two-hundred day simple moving average is $2.97. PepGen has a 12-month low of $1.31 and a 12-month high of $7.80.

PepGen (NASDAQ:PEPG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). On average, equities analysts predict that PepGen will post -1.12 earnings per share for the current fiscal year.

Institutional Trading of PepGen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Group One Trading LLC purchased a new position in PepGen during the 1st quarter worth $77,000. Seven Fleet Capital Management LP purchased a new stake in PepGen in the first quarter valued at about $105,000. Rangeley Capital LLC raised its stake in PepGen by 88.1% in the first quarter. Rangeley Capital LLC now owns 68,096 shares of the company's stock valued at $121,000 after buying an additional 31,896 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in PepGen in the second quarter valued at about $171,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PepGen in the second quarter worth about $202,000. Hedge funds and other institutional investors own 58.01% of the company's stock.

About PepGen

PepGen is a clinical-stage biotechnology company developing oligonucleotide medicines for people with neuromuscular diseases. Its Enhanced Delivery Oligonucleotide (EDO) platform is designed to help deliver these medicines to muscle tissue. The company's pipeline includes PGN-EDO51, an investigational exon-skipping therapy for Duchenne muscular dystrophy in patients whose genetic mutations are amenable to exon 51 skipping, and PGN-EDODM1, an investigational candidate for myotonic dystrophy type 1.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.