Chardan Capital analyst Gbola Amusa reiterated a Buy rating on RegenXBio (RGNX) today and set a price target of $127.50. The company’s shares closed on Friday at $45.64, close to its 52-week low of $38.56.
Amusa observed:
“We left the meetings with the belief multiple assets may drive share price appreciation (namely, RGX-314 in wet AMD; MPS I and II programs; Zolgensma, hemophilia A, and other partnered programs) and a view of an increasing likelihood REGENXBIO may capture the value of its IP that is likely being used elsewhere in the Duchenne muscular dystrophy market (e.g. by unrated Sarepta Therapeutics). On macro, REGENXBIO noted a belief GT is moving beyond rare diseases and into large, chronic diseases, e.g. with the potential of GT being able to deliver proteins that have a reasonable therapeutic index. We now summarize key themes from the roadshow. Zolgensma approval may have caused recent share price weakness.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 17.9% and a 50.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Logicbio Therapeutics Inc, and Axovant Gene Therapies.
The word on The Street in general, suggests a Hold analyst consensus rating for RegenXBio.
See today’s analyst top recommended stocks >>
Based on RegenXBio’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $32.23 million. In comparison, last year the company had a net profit of $104 million.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RGNX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
