Oppenheimer Starts Engene Holdings Inc. (ENGN) at Outperform

Oppenheimer analyst Leland Gershell initiates coverage on Engene Holdings Inc. (NASDAQ: ENGN) with a Outperform rating and a price target of $30.00.

The analyst comments "We leverage our depth in uro-oncology through our initiation of ENGN with an Outperform rating and $30 PT. We like lead immunotherapeutic EG-70 as much for its provider/patient-friendliness and manufacturing ease/scalability as for its emerging efficacy/safety profile in the increasingly competitive non-muscle invasive bladder cancer (NMIBC) space. Comps indicate a large valuation step-up as EG-70 marks clinical progress, and we are buyers ahead of next month's interim reveal in the particularly challenging BCG-unresponsive w/CIS setting as enrollment in the pivotal Phase 2 LEGEND trial broadens to other disease subtypes. We project 2031E sales of ~$530M following anticipated 2027E US approval and launch. ENGN's non-viral gene therapy platform could address other malignancies over time, and February's $200M PIPE puts the company on solid financial footing."

For an analyst ratings summary and ratings history on Engene Holdings Inc. click here. For more ratings news on Engene Holdings Inc. click here.

Shares of Engene Holdings Inc. closed at $6.48 yesterday.

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