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JMP Securities reiterated its Market Outperform rating and $18.00 price target on enGene Holdings Inc. (NASDAQ:ENGN) on Monday. The target represents significant upside potential from the current price of $3.33, with analyst targets ranging from $7 to $30. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
The research firm cited enGene’s expected release of updated LEGEND BCG-Unresponsive HR-NMIBC clinical data in the second half of 2025 as a key factor in its assessment.
JMP also noted that the European Medicines Agency (EMA) has indicated broad agreement that detalimogene preclinical and clinical data could potentially support a Conditional Marketing Authorization Application.
The gene therapy company reported second-quarter 2025 operating expenses of $27.1 million, according to JMP’s analysis of the financial results.
EnGene ended the quarter with a cash balance of $251.5 million, which the company believes is sufficient to fund operations into 2027, supporting its ongoing clinical development programs.
In other recent news, enGene Holdings Inc. reported its fiscal second-quarter 2025 financial results, revealing a net loss of $25.8 million and earnings per share of $(0.51). These results were better than Raymond (NSE:RYMD) James’ estimates, which had anticipated a $27.9 million loss and $(0.55) EPS. Raymond James maintained its Outperform rating for enGene, citing strong execution and a price target of $23.00. Meanwhile, enGene announced the approval of its 2025 Employee Stock Purchase Plan, reserving 2,000,000 common shares for eligible employees. The plan aims to align employee interests with those of shareholders.
Additionally, enGene’s Chief Medical (TASE:BLWV) Officer, Dr. Raj Pruthi, is set to step down in mid-June, with a transition plan in place to ensure continuity. The company has also appointed Amy Pott as Chief Global Commercialization Officer, focusing on the anticipated launch of detalimogene voraplasmid, their lead investigational agent for treating non-muscle invasive bladder cancer. Citizens JMP reiterated its Market Outperform rating for enGene, maintaining an $18.00 price target. The firm emphasized the significance of enGene’s LEGEND cohort data, expected in the second half of 2025, as pivotal in the evolving treatment landscape for high-risk, BCG-unresponsive bladder cancer.
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