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H.C. Wainwright has reiterated a buy rating and $25.00 price target on Engene Holdings Inc. (NASDAQ:ENGN), citing progress in the company’s pivotal LEGEND trial for high-risk non-muscle invasive bladder cancer (NMIBC). Currently trading at $3.33, the stock sits well below analysts’ price targets ranging from $7 to $30. According to InvestingPro analysis, ENGN appears undervalued based on its Fair Value metrics.
The trial’s registrational arm, Cohort 1, is enrolling BCG-unresponsive carcinoma in situ (CIS) patients with or without papillary disease and is expected to deliver interim data in the second half of 2025. Protocol updates that removed rigid resection exclusions are anticipated to improve complete response (CR) durability rates compared to the earlier observed 47% CR rate at 6 months. The $170 million market cap company maintains a strong financial position with a healthy current ratio of 12.66 and minimal debt-to-equity of 0.11.
As of September 2024, the company’s lead program, detalimogene voraplasmid (EG-70), had already demonstrated a 71% CR-anytime rate in 21 patients. Engene is specifically collecting data from BCG-unresponsive patients without papillary involvement to maintain comparability with FDA precedents. Get deeper insights into ENGN’s financial health, valuation metrics, and exclusive analyst coverage with InvestingPro.
The company has expanded enrollment across Europe and Asia, with further expansion underway in Canada, where local regulatory approval has enabled early access through investigator-initiated studies.
H.C. Wainwright’s $25 price target represents significant upside potential for the clinical-stage gene therapy company, which is developing treatments for patients with limited therapeutic options.
In other recent news, enGene Holdings Inc. reported a quarterly net loss of $25.8 million with earnings per share of $(0.51), performing better than Raymond (NSE:RYMD) James’ estimates of a $27.9 million loss and $(0.55) EPS. The company ended the quarter with approximately $252 million in cash, which management expects will fund operations into 2027. JMP Securities reiterated its Market Outperform rating with an $18.00 price target, citing enGene’s clinical progress and potential support from the European Medicines Agency for a Conditional Marketing Authorization Application. Raymond James also maintained its Outperform rating and $23.00 price target, highlighting the company’s strong execution and differentiated technology.
Additionally, enGene announced the approval of its 2025 Employee Stock Purchase Plan, allowing eligible employees to acquire company shares. The company also saw a change in its management team, with the resignation of Chief Medical (TASE:BLWV) Officer Dr. Raj Pruthi and the appointment of Amy Pott as Chief Global Commercialization Officer. Ms. Pott will lead commercialization efforts, including the anticipated launch of detalimogene voraplasmid, a treatment for non-muscle invasive bladder cancer. enGene’s CEO expressed enthusiasm about Ms. Pott joining the team, noting her extensive experience in gene therapies and rare diseases.
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