Mizuho initiates Regenxbio stock coverage with outperform rating

Mizuho initiated coverage on Regenxbio Inc. (NASDAQ: RGNX) with an outperform rating and set a price target of $22.00, representing nearly 196% upside from the current stock price of $7.43, which has declined 48% year-to-date. The firm highlighted the company’s development of gene therapy-based candidates for diseases with high unmet need as the basis for its rating.

Mizuho’s model focuses on two lead assets in the company’s pipeline: RGX-202 for Duchenne muscular dystrophy and ABBV-RGX-314, also known as sura-vec, for wet age-related macular degeneration and diabetic retinopathy.

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