Neurogene is likely to recover from a recent pullback as it makes progress on its treatment for a rare genetic disorder, according to JPMorgan. The investment bank initiated coverage with an overweight rating. It also put a price target of $60 on shares, suggesting 132% upside from Wednesday’s close. “Our Overweight thesis is based on NGN-401 – a one-time intracerebroventricular gene therapy – delivering [a] functional [type of protein] using EXACT transgene platform technology for females with genetically confirmed class Rett syndrome,” analyst Priyanka Grover said Thursday in a note to clients. Rett syndrome is a rare genetic disorder that primarily impacts women. It causes loss of physical and motor skills following a period of normal development. NGNE 3M mountain Shares are down about 32% over the past three months. Shares of Neurogene have fallen roughly 32% over the past three months amid a broader pullback in bio-tech stocks due to structural headwinds. In addition, the company in August posted softer-than-expected financial results for the second quarter, while reporting that its research and development costs had increased. However, Neurogene plans to release new trial data for its Rett syndrome treatment in 2027, which should act as a key catalyst for its stock, according to JPMorgan. The investment bank’s call matches consensus on the Street. All ten of the analysts covering Neurogene have a buy or strong buy rating on the stock, LSEG data shows.
