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Why Guggenheim Is Bullish On Passage Bio

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Why Guggenheim Is Bullish On Passage Bio

Passage Bio Inc (NASDAQ: PASG) is leveraging the UPenn Gene Therapy Program to access compelling translational research and develop a range of differentiated adeno-associated virus gene therapies for rare central nervous system disorders, according to Guggenheim.

The Passage Bio Analyst: Debjit Chattopadhyay initiated coverage of Passage Bio with a Buy rating and $25 price target.

The Passage Bio Thesis: Clinical updates from the company through 2021 will be “highly consequential,” and may significantly lift sentiment for the stock, Chattopadhyay said in a Thursday initiation note. 

“PBGM01, a GLB1 expressing GTx coupled to the novel AAVhu68 vector delivered via the cisterna magna (ICM) is ready to take flight,” the analyst said. 

“Passage has opted for delivery via the cisterna magna for all three of its pipeline candidates, a route not being widely pursued by peers, but evolving safety data should improve sentiment,” he said. 

“We think the potential benefits outweigh the risks especially if the anticipated high CNS exposure and limited systemic exposure is borne out.”  

PASG Price Action: Shares of Passage Bio were trading 2.57% higher at $21.13 at last check Thursday.

Latest Ratings for PASG

DateFirmActionFromTo
Mar 2021Goldman SachsUpgradesNeutralBuy
Feb 2021GuggenheimInitiates Coverage OnBuy
Jan 2021JP MorganUpgradesNeutralOverweight

View More Analyst Ratings for PASG
View the Latest Analyst Ratings

 

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