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Investing.com - H.C. Wainwright raised its price target on Neurogene (NASDAQ:NGNE) to $70.00 from $65.00 on Thursday, while maintaining a Buy rating on the gene therapy company.
The firm cited new NGN-401 data showing more advanced and durable clinical results compared to competitor Taysha Gene Therapies’ (TSHA) TSHA-102 treatment for Rett syndrome, despite Neurogene’s significantly lower market valuation.
H.C. Wainwright highlighted that Neurogene has achieved 31 total skills across eight Rett syndrome children with NGN-401, compared to 22 total skills among 10 patients for TSHA-102, resulting in more milestones per patient.
The research firm noted that while Taysha has reported a 100% chance of patients gaining a milestone, investors lack visibility into which specific milestones were achieved, how many per patient, and whether improvements are sustained long-term.
H.C. Wainwright increased its probability of approval for NGN-401 to 55% from 45%, driving the new price target to $70—a level where Neurogene stock traded a year ago when the firm had "far less confidence in the program than today."
In other recent news, Neurogene Inc. has announced plans to initiate its Embolden registrational trial for NGN-401, a gene therapy targeting Rett syndrome, in the fourth quarter of 2025. This development follows the completion of discussions with the U.S. Food and Drug Administration regarding the trial protocol. The trial aims to enroll patients across 13 sites, reflecting significant interest from the Rett syndrome community. Additionally, H.C. Wainwright has reiterated its Buy rating for Neurogene, maintaining a price target of $45. The firm noted a valuation disparity compared to a competitor, highlighting that despite similar advancements in Neurogene’s development pipeline, its stock did not experience a significant increase. These recent developments underscore ongoing interest and activity surrounding Neurogene’s clinical-stage projects.
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