PepGen climbs as H.C. Wainwright starts coverage with 'buy'

PepGen

21/12/2022 18:08

** Shares of drug developer PepGen Inc  PEPG.O  rise ~4% to
$15.09 as brokerage H.C. Wainwright initiates coverage with
"buy" rating
    ** Brokerage sets PT of $26, implying an upside of ~79% on
stock's last close
    ** Cites co's duchenne muscular dystrophy (DMD) treating
drug candidate targets cardiac muscle cells, catering to unmet
demand in the muscular weakness segment
    ** PepGen's drug is well differentiated from closest
competitors in terms of dosage efficacy in cardiac cells, says
H.C. Wainwright 
    ** Brokerage estimates adj revenue from the drug to reach
$152 mln by 2034 in the U.S. market
    ** Since listing in May, PepGen up ~17%
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))