Brokerages Set PepGen, Inc. (NASDAQ:PEPG) Price Target at $11.75

Shares of PepGen, Inc. (NASDAQ:PEPG) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $11.75.

A number of analysts recently weighed in on PEPG shares. Weiss Ratings reissued a “sell (d-)” rating on shares of PepGen in a research note on Wednesday, October 8th. Guggenheim reiterated a “buy” rating and issued a $6.00 price objective on shares of PepGen in a research note on Wednesday, September 24th. Wall Street Zen raised PepGen from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Stifel Nicolaus lifted their price target on shares of PepGen from $9.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Finally, HC Wainwright lifted their price objective on PepGen from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 13th.

Institutional Investors Weigh In On PepGen

Several institutional investors have recently modified their holdings of PEPG. RA Capital Management L.P. lifted its holdings in PepGen by 87.7% in the third quarter. RA Capital Management L.P. now owns 20,064,545 shares of the company’s stock valued at $92,698,000 after buying an additional 9,375,000 shares during the period. Viking Global Investors LP grew its holdings in PepGen by 134.9% during the 3rd quarter. Viking Global Investors LP now owns 3,482,434 shares of the company’s stock worth $16,089,000 after acquiring an additional 2,000,000 shares during the period. Commodore Capital LP bought a new stake in shares of PepGen during the 3rd quarter valued at $10,891,000. Vivo Capital LLC bought a new stake in shares of PepGen during the 3rd quarter valued at $10,742,000. Finally, Laurion Capital Management LP lifted its stake in shares of PepGen by 133.4% in the 3rd quarter. Laurion Capital Management LP now owns 1,892,156 shares of the company’s stock valued at $8,742,000 after purchasing an additional 1,081,395 shares during the period. Institutional investors and hedge funds own 58.01% of the company’s stock.

PepGen Trading Up 4.5%

Shares of NASDAQ PEPG opened at $7.15 on Friday. The firm has a market capitalization of $491.56 million, a price-to-earnings ratio of -2.54 and a beta of 1.91. PepGen has a one year low of $0.88 and a one year high of $7.80. The business has a fifty day simple moving average of $5.53 and a 200 day simple moving average of $3.44.

PepGen (NASDAQ:PEPG) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.11. On average, research analysts anticipate that PepGen will post -2.73 earnings per share for the current fiscal year.

PepGen Company Profile

PepGen, Inc (NASDAQ: PEPG) is a clinical-stage biotechnology company headquartered in San Diego, California. The company is developing precision gene editing therapies to address rare genetic diseases by combining advanced prime editing modalities with proprietary delivery technologies. PepGen’s platform is designed to achieve targeted and durable correction of disease-causing mutations in vivo, with the goal of providing long-lasting therapeutic benefit after a single administration.

The company’s lead development programs include PPG-001 for mucopolysaccharidosis type II (Hunter syndrome) and PPG-002 for mucopolysaccharidosis type I (Hurler syndrome).