RegenXBio (RGNX) Gets a Buy Rating from Raymond James


Raymond James analyst Reni Benjamin reiterated a Buy rating on RegenXBio (RGNX) today and set a price target of $96. The company’s shares closed yesterday at $73.80.

Benjamin commented:

“We are reiterating our Outperform rating for REGENXBIO. Yesterday, the company reported 3Q18 financial results and provided an update on the wholly owned assets within the pipeline. Key takeaways from the call include: 1) the Phase I wet AMD program completed enrollment in the fourth and highest dose cohort, setting the stage for data release in early 2019; 2) the first patient was dosed in the Phase I/II MPS II study while enrollment for Phase I/II MPS I study has been pushed out to 1H19; 3) the HoFH program is expected to provide an update in early 2019; and 4) licensing activities picked up steam as Abeona came on board with $180 million in potential milestones over the next 5 years.”

According to TipRanks.com, Benjamin is ranked 0 out of 5 stars with an average return of -3.1% and a 35.3% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences Inc, Asterias Biotherapeutics, and Adaptimmune Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for RegenXBio with a $102.17 average price target, representing a 38.4% upside. In a report issued on November 5, Chardan Capital also reiterated a Buy rating on the stock with a $127.50 price target.

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The company has a one-year high of $85.10 and a one-year low of $23.25. Currently, RegenXBio has an average volume of 539.5K.

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REGENXBIO, Inc. is a biotechnology company, which engages in the development, commercialization, and licensing of recombinant adeno-associated virus gene therapy. The company was founded by Kennth T. Mills and James M. Wilson on July 16, 2008 and is headquartered in Rockville, MD.

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