Leerink Partnrs Issues Positive Estimate for PepGen Earnings

PepGen Inc. (NASDAQ:PEPG) – Stock analysts at Leerink Partnrs boosted their FY2024 earnings estimates for shares of PepGen in a report released on Sunday, November 10th. Leerink Partnrs analyst J. Schwartz now forecasts that the company will post earnings of ($2.91) per share for the year, up from their previous forecast of ($3.37). The consensus estimate for PepGen’s current full-year earnings is ($2.99) per share. Leerink Partnrs also issued estimates for PepGen’s Q4 2024 earnings at ($0.74) EPS, Q1 2025 earnings at ($0.76) EPS, Q2 2025 earnings at ($0.80) EPS, Q3 2025 earnings at ($0.83) EPS, Q4 2025 earnings at ($0.87) EPS, FY2025 earnings at ($3.27) EPS and FY2026 earnings at ($2.98) EPS.

Several other research firms have also issued reports on PEPG. Bank of America cut PepGen from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research report on Wednesday, July 31st. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of PepGen in a research note on Friday, November 8th. Finally, Wedbush reduced their price objective on shares of PepGen from $19.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 8th.

PepGen Stock Performance

Shares of NASDAQ:PEPG opened at $4.55 on Wednesday. The company has a 50-day simple moving average of $8.21 and a 200 day simple moving average of $12.07. The company has a market capitalization of $148.33 million, a P/E ratio of -1.53 and a beta of 1.76. PepGen has a 52-week low of $3.81 and a 52-week high of $19.30.

Hedge Funds Weigh In On PepGen

Several institutional investors and hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. boosted its stake in PepGen by 31.5% in the 1st quarter. RA Capital Management L.P. now owns 10,689,545 shares of the company’s stock valued at $157,136,000 after purchasing an additional 2,557,593 shares during the period. Janus Henderson Group PLC boosted its position in shares of PepGen by 18.1% in the first quarter. Janus Henderson Group PLC now owns 1,166,642 shares of the company’s stock valued at $17,225,000 after acquiring an additional 178,438 shares during the period. Vanguard Group Inc. grew its stake in shares of PepGen by 68.0% in the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company’s stock valued at $12,502,000 after acquiring an additional 344,266 shares in the last quarter. Sofinnova Investments Inc. increased its position in PepGen by 11.4% during the second quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company’s stock worth $8,956,000 after acquiring an additional 57,504 shares during the period. Finally, Artal Group S.A. acquired a new stake in PepGen in the 1st quarter worth about $2,940,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

About PepGen

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.