Add as a preferred source on GoogleJPMorgan Initiates Neurogene Coverage With $60 Price Target
The overweight rating implies 132% upside from the Oct. 7 close. Neurogene shares have fallen about 32% over the past three months.
JPMorgan initiated coverage of Neurogene with an overweight rating and a $60 price target, highlighting the company’s experimental treatment for Rett syndrome and a planned 2027 data release.
The target implies 132% upside from Neurogene’s Oct. 7 closing price. Shares have declined about 32% over the past three months as biotechnology stocks faced broader pressure.
Neurogene is developing NGN-401, a one-time gene therapy delivered into the brain for females with genetically confirmed Rett syndrome. The rare genetic disorder can cause the loss of physical and motor abilities after an initial period of normal development.
The company reported weaker-than-expected second-quarter financial results in August while research and development costs increased. Its planned 2027 trial update is expected to be the next major development for the treatment program.
Ten analysts covering Neurogene have buy or strong-buy ratings on the stock. JPMorgan based its positive view on NGN-401’s potential to deliver a functional protein through Neurogene’s EXACT transgene platform technology.
The company’s ticker is NGNE.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.