PepGen (PEPG, Financial) has seen its price target reduced by Bank of America from $3 to $1, while maintaining an Underperform rating. This comes after the company decided to halt the development of its Duchenne muscular dystrophy (DMD) programs due to unsatisfactory outcomes from its 10mg/kg PGN-EDO51 data. PepGen's strategic direction will now shift toward advancing its DM1 program, though it is noted that this area still requires considerable risk reduction. Additionally, the firm's financial model has been updated to reflect first-quarter results, cash flow, and share count, as well as the removal of DMD-related value following the program's discontinuation.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for PepGen Inc (PEPG, Financial) is $11.20 with a high estimate of $20.00 and a low estimate of $1.00. The average target implies an upside of 608.86% from the current price of $1.58. More detailed estimate data can be found on the PepGen Inc (PEPG) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, PepGen Inc's (PEPG, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
