Leerink Partnrs Issues Positive Forecast for PepGen Earnings

PepGen Inc. (NASDAQ:PEPG - Free Report) - Equities researchers at Leerink Partnrs boosted their FY2024 earnings per share estimates for PepGen in a report released on Sunday, November 10th. Leerink Partnrs analyst J. Schwartz now anticipates that the company will earn ($2.91) per share for the year, up from their prior 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.

A number of other analysts also recently commented on PEPG. Wedbush reduced their price objective on PepGen from $19.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, November 8th. HC Wainwright reiterated a "buy" rating and set a $26.00 price target on shares of PepGen in a research note on Friday, November 8th. Finally, Bank of America lowered shares of PepGen from a "buy" rating to a "neutral" rating and set a $12.00 target price on the stock. in a research report on Wednesday, July 31st.

PepGen Stock Performance

Shares of PEPG traded up $0.01 during trading hours on Wednesday, reaching $4.55. 1,358,977 shares of the company traded hands, compared to its average volume of 122,366. PepGen has a 1-year low of $3.81 and a 1-year high of $19.30. The stock has a market cap of $148.33 million, a P/E ratio of -1.51 and a beta of 1.76. The stock's fifty day moving average is $8.30 and its 200 day moving average is $12.12.

Institutional Trading of PepGen

Several hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC lifted its stake in shares of PepGen by 18.1% during 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% during the first quarter. Vanguard Group Inc. now owns 850,445 shares of the company's stock worth $12,502,000 after purchasing an additional 344,266 shares during the period. Sofinnova Investments Inc. increased its holdings in PepGen by 11.4% in the second quarter. Sofinnova Investments Inc. now owns 561,128 shares of the company's stock valued at $8,956,000 after purchasing an additional 57,504 shares during the last quarter. Acadian Asset Management LLC acquired a new position in PepGen in the first quarter valued at about $30,000. Finally, American Century Companies Inc. grew its position in shares of PepGen by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 20,028 shares of the company's stock worth $320,000 after buying an additional 3,326 shares during the period. Institutional investors and hedge funds own 58.01% of the company's stock.

PepGen Company Profile

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.