enGene Holdings rises after H.C. Wainwright starts coverage with 'buy'

enGene Therapeutics

23/12/2024 15:25

** Drug developer enGene Holdings'  ENGN.O  shares rise 7.2%
to $6.24 
    ** H.C. Wainwright starts coverage with "buy" rating and PT
of $25 — a ~4x upside to Friday's close 
    ** Brokerage says ENGN's lead drug, detalimogene, can be
administered safer and simpler than other gene therapies 
    ** ENGN reported in September that the drug had a complete
response rate at any time of 71% in patients with high-risk
non-muscle invasive bladder cancer
    ** Brokerage says this is in-line with treatments from CG
Oncology  CGON.O  and Johnson & Johnson  JNJ.N 
    ** Complete response rate is the percentage of patients in a
clinical trial whose cancer completely disappears after
treatment.
    ** Brokerage says investors should "consider the holistic
risk/reward profiles of treatments" rather than focusing solely
on the metric
    ** Expects FDA approval for ENGN's drug by 2027 and sales of
$868 mln by 2034
    ** All ten brokerages rate stock "buy" or higher; median PT
is $30 - LSEG
    ** As of last close, stock has fallen 36.8% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))