Pepgen Stock More Than Doubles On Thursday Check Out The New Price Targets On Wall Street

2025-09-25 03:17:34

(MENAFN- AsiaNet News)

Shares of PepGen (PEPG) more than doubled on Thursday morning after multiple analysts raised their price targets on the stock following the release of positive clinical data from an early-stage study in patients with myotonic dystrophy type 1.

Wedbush raised its price target on PepGen to $9 from $7 and kept an 'Outperform' rating on the shares, while H.C. Wainwright hiked its price target on the stock to $12 from $8.

Myotonic dystrophy type 1 (DM1) is a progressive disorder that primarily affects skeletal, cardiac, and smooth muscle. It is estimated to affect about 40,000 patients in the U.S.

The company announced on Wednesday that a 53.7% mean splicing correction was observed in DM1 patients following a single 15 mg/kg dose of its PGN-EDODM1, which is higher than any previously reported splicing correction in DM1 patients. The investigational candidate is designed to restore the normal splicing function of MBNL1, a key RNA splicing protein.

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