PepGen (NASDAQ:PEPG) Price Target Raised to $12.00 at HC Wainwright

Key Points

• HC Wainwright has raised PepGen's price target from $8.00 to $12.00, indicating a potential upside of 351.13% from its current price.
• Guggenheim reiterated a "buy" rating with a lower price target of $6.00, while the overall consensus rating on PepGen stock is "Moderate Buy" with an average price target of $8.25.
• PepGen's shares recently traded at $2.66, with a strong market interest as hedge funds and institutional investors control over 58% of its stock.

PepGen (NASDAQ:PEPG - Get Free Report) had its price objective increased by equities researchers at HC Wainwright from $8.00 to $12.00 in a report released on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 351.13% from the company's current price.

Separately, Guggenheim reaffirmed a "buy" rating and issued a $6.00 target price on shares of PepGen in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $8.25.

PepGen Trading Up 36.4%

Shares of NASDAQ:PEPG opened at $2.66 on Thursday. The company has a market capitalization of $87.25 million, a PE ratio of -0.90 and a beta of 1.17. PepGen has a twelve month low of $0.88 and a twelve month high of $9.94. The firm has a 50 day simple moving average of $1.42 and a 200-day simple moving average of $1.45.

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

Hedge Funds Weigh In On PepGen

A number of large investors have recently bought and sold shares of PEPG. XTX Topco Ltd purchased a new position in PepGen during the 1st quarter worth $25,000. ADAR1 Capital Management LLC purchased a new position in PepGen during the 1st quarter worth $29,000. Rangeley Capital LLC raised its position in PepGen by 133.3% during the 2nd quarter. Rangeley Capital LLC now owns 35,000 shares of the company's stock worth $39,000 after buying an additional 20,000 shares during the last quarter. Marshall Wace LLP purchased a new position in PepGen during the 2nd quarter worth $44,000. Finally, Qube Research & Technologies Ltd purchased a new position in PepGen during the 2nd quarter worth $81,000. Hedge funds and other institutional investors own 58.01% of the company's stock.

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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