HC Wainwright Issues Positive Forecast for PepGen (NASDAQ:PEPG) Stock Price

PepGen (NASDAQ:PEPG) had its price objective increased by HC Wainwright from $8.00 to $12.00 in a report issued on Thursday, MarketBeat reports. The firm currently has a buy rating on the stock.

Separately, Guggenheim reiterated a “buy” rating and set a $6.00 price objective on shares of PepGen in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.40.

PepGen Stock Up 121.1%

Shares of PEPG stock opened at $5.88 on Thursday. PepGen has a 12-month low of $0.88 and a 12-month high of $9.94. The company has a market capitalization of $192.86 million, a PE ratio of -1.99 and a beta of 1.17. The firm has a 50 day moving average price of $1.51 and a two-hundred day moving average price of $1.48.

PepGen (NASDAQ:PEPG) last posted its earnings results on Thursday, August 7th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.15. As a group, research analysts expect that PepGen will post -2.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PEPG. XTX Topco Ltd acquired a new stake in PepGen during the first quarter worth about $25,000. ADAR1 Capital Management LLC bought a new stake in shares of PepGen during the 1st quarter worth approximately $29,000. Rangeley Capital LLC boosted its position in shares of 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 acquiring an additional 20,000 shares in the last quarter. Marshall Wace LLP bought a new position in PepGen in the second quarter valued at approximately $44,000. Finally, Qube Research & Technologies Ltd acquired a new position in PepGen during the second quarter valued at approximately $81,000. Institutional investors and hedge funds 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.