Brokerages Set PepGen, Inc. (NASDAQ:PEPG) Price Target at $10.00

by · The Cerbat Gem

PepGen, Inc. (NASDAQ:PEPG – Get Free Report) has been given a consensus rating of “Hold” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.00.

Several brokerages have recently issued reports on PEPG. Wall Street Zen upgraded PepGen from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Wedbush upped their price target on PepGen from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. Stifel Nicolaus lifted their price objective on PepGen from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Guggenheim reissued a “buy” rating and set a $6.00 price objective on shares of PepGen in a research report on Wednesday, September 24th. Finally, HC Wainwright upped their target price on shares of PepGen from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th.

Get Our Latest Stock Report on PepGen

PepGen Stock Performance

Shares of PEPG stock opened at $5.74 on Tuesday. PepGen has a fifty-two week low of $0.88 and a fifty-two week high of $6.72. The company has a 50 day moving average price of $5.09 and a 200 day moving average price of $2.83. The stock has a market capitalization of $394.63 million, a P/E ratio of -2.04 and a beta of 1.91.

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

Insider Activity at PepGen

In other news, major shareholder Science Enterprises Plc Oxford acquired 200,000 shares of the company’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $3.20 per share, with a total value of $640,000.00. Following the transaction, the insider owned 4,955,388 shares in the company, valued at approximately $15,857,241.60. This trade represents a 4.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On PepGen

A number of institutional investors and hedge funds have recently modified their holdings of PEPG. Heights Capital Management Inc. purchased a new position in PepGen in the third quarter valued at $46,000. Burkehill Global Management LP purchased a new position in shares of PepGen in the 3rd quarter valued at about $46,000. Militia Capital Partners LP purchased a new position in shares of PepGen in the 3rd quarter valued at about $72,000. XTX Topco Ltd acquired a new stake in shares of PepGen during the 1st quarter worth about $25,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of PepGen during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 58.01% of the company’s stock.

PepGen Company Profile

(Get Free Report)

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.

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