Bullish indicating open at $55-$60, IPO prices at $37
Regenxbio Inc (NASDAQ:RGNX) stock has hit a 52-week low, dropping to $6.54, with a current market capitalization of $330.47 million, as the biotechnology firm faces a challenging market environment. According to InvestingPro analysis, while the company holds more cash than debt on its balance sheet, it’s quickly burning through its cash reserves. This latest price level reflects a significant downturn over the past year, with the stock experiencing a sharp decline of -60.2% from its value a year ago. Investors are closely monitoring the company’s performance and potential catalysts that could influence its recovery, with analyst price targets ranging from $14 to $52, as the current market conditions continue to exert pressure on the biotech sector. Regenxbio’s journey to its 52-week low has been marked by volatility and investor caution, as the industry grapples with regulatory hurdles and a shifting investment landscape. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about RGNX, with the next earnings announcement expected on March 4, 2025.
In other recent news, Regenxbio Inc. has announced a strategic partnership with Nippon Shinyaku for the development and commercialization of gene therapies RGX-121 and RGX-111, targeting Mucopolysaccharidosis II and I. This collaboration will provide Regenxbio with an upfront payment of $110 million and up to $700 million in additional milestone payments, along with double-digit royalties on net sales in the U.S. and Asia. The partnership is expected to close by the first quarter of 2025. Meanwhile, H.C. Wainwright has maintained its Buy rating for Regenxbio, with a price target of $36.00, citing the strategic partnership and progress of the company’s gene therapy candidates as key factors.
In another development, Raymond (NSE:RYMD) James has initiated coverage on Regenxbio with an Outperform rating and a $27.00 price target. This positive outlook is based on the potential launch of Elevidys and the anticipated regulatory approval of RGX-202. On the other hand, Goldman Sachs has downgraded Regenxbio from "Buy" to "Neutral," lowering the price target to $14.00 due to concerns about the viability of its gene therapy offerings. Despite these mixed analyst ratings, Regenxbio continues to advance its pipeline with promising data from its RGX-202 product.
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