PepGen (NASDAQ:PEPG) Given New $12.00 Price Target at Stifel Nicolaus

Key Points

• PepGen's stock price target was raised by Stifel Nicolaus from $9.00 to $12.00, indicating a potential upside of 107.08% from its previous close.
• The stock is currently rated as a Moderate Buy by analysts, with a consensus target price of $8.40.
• PepGen shares surged 117.9% recently, reaching $5.80, following positive clinical data regarding its Phase 2 treatment for Duchenne muscular dystrophy.

PepGen (NASDAQ:PEPG - Get Free Report) had its price objective raised by equities research analysts at Stifel Nicolaus from $9.00 to $12.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 107.08% from the company's previous close.

A number of other research analysts also recently issued reports on the stock. Guggenheim reiterated a "buy" rating and set a $6.00 target price on shares of PepGen in a research report on Wednesday. HC Wainwright boosted their price target on shares of PepGen from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Wedbush boosted their price target on shares of PepGen from $7.00 to $9.00 and gave the company an "outperform" rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.40.

PepGen Stock Up 117.9%

NASDAQ:PEPG traded up $3.14 during trading hours on Thursday, reaching $5.80. 115,372,314 shares of the company's stock were exchanged, compared to its average volume of 1,977,155. The company has a market capitalization of $190.08 million, a P/E ratio of -2.00 and a beta of 1.17. PepGen has a 12 month low of $0.88 and a 12 month high of $9.94. The business's 50-day simple moving average is $1.42 and its two-hundred day simple moving average is $1.45.

PepGen (NASDAQ:PEPG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.85) by $0.15. As a group, sell-side analysts anticipate that PepGen will post -2.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PEPG. Deutsche Bank AG boosted its position in shares of PepGen by 442.5% during the fourth quarter. Deutsche Bank AG now owns 44,735 shares of the company's stock worth $170,000 after acquiring an additional 36,489 shares during the last quarter. Wellington Management Group LLP raised its holdings in PepGen by 17.2% during the 4th quarter. Wellington Management Group LLP now owns 47,506 shares of the company's stock valued at $180,000 after buying an additional 6,989 shares during the period. Millennium Management LLC raised its holdings in PepGen by 1,033.2% during the 4th quarter. Millennium Management LLC now owns 156,636 shares of the company's stock valued at $594,000 after buying an additional 142,814 shares during the period. Northern Trust Corp increased its stake in PepGen by 5.4% in the fourth quarter. Northern Trust Corp now owns 157,038 shares of the company's stock worth $595,000 after purchasing an additional 7,984 shares during the period. Finally, Bank of America Corp DE increased its stake in PepGen by 54.7% in the fourth quarter. Bank of America Corp DE now owns 53,868 shares of the company's stock worth $204,000 after purchasing an additional 19,056 shares during the period. 58.01% of the stock is owned by hedge funds and other institutional investors.

PepGen Company Profile

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.

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