PepGen (NASDAQ:PEPG) Given New $12.00 Price Target at Stifel Nicolaus

PepGen (NASDAQ:PEPG) had its target price upped by Stifel Nicolaus from $9.00 to $12.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on PEPG. Guggenheim reiterated a “buy” rating and issued a $6.00 target price on shares of PepGen in a research note on Wednesday. Wedbush increased their price objective on shares of PepGen from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, HC Wainwright boosted their target price on shares of PepGen from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PepGen presently has an average rating of “Moderate Buy” and an average price target of $8.40.

PepGen Stock Up 121.1%

Shares of PEPG stock opened at $5.88 on Thursday. The company has a market cap of $192.86 million, a P/E ratio of -1.99 and a beta of 1.17. The business has a 50 day moving average of $1.51 and a two-hundred day moving average of $1.48. PepGen has a 52 week low of $0.88 and a 52 week high of $9.94.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.15. Analysts expect that PepGen will post -2.73 EPS for the current fiscal year.

Institutional Investors Weigh In On PepGen

Several institutional investors have recently bought and sold shares of PEPG. Rangeley Capital LLC grew its position in PepGen by 133.3% in the 2nd quarter. Rangeley Capital LLC now owns 35,000 shares of the company’s stock valued at $39,000 after buying an additional 20,000 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of PepGen by 61.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 91,923 shares of the company’s stock worth $102,000 after acquiring an additional 35,000 shares during the period. RBF Capital LLC bought a new position in shares of PepGen in the second quarter valued at approximately $111,000. Qube Research & Technologies Ltd bought a new position in shares of PepGen in the second quarter valued at approximately $81,000. Finally, Marshall Wace LLP acquired a new position in shares of PepGen during the second quarter valued at approximately $44,000. 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.