PepGen Inc (PEPG) Stock Forecast & Price Target

PepGen is supported by encouraging clinical progress in PGN-EDODM1, where the 10mg/kg dosing cohort completed enrollment and drug concentrations increased over time, reinforcing the platform’s ability to improve oligonucleotide delivery. The company also reported 1Q26 GAAP EPS of $(0.26), ahead of consensus, with $132M in cash and equivalents exiting 1Q26, which management says supports runway into 2H27. While concerns remain around the reliability of earlier splicing data and the partial clinical hold, the outlook stays positive because the broader EDO platform is designed to reach multiple target tissues and the pipeline still offers meaningful long-term optionality.

PepGen is an early developmental-stage biopharmaceutical company whose value depends heavily on unproven clinical and regulatory outcomes, with the model itself relying on taxed and diluted 2034 EPS of $4.46 and discounted cash flow assumptions that are highly sensitive to execution. The outlook is negative because PGN-EDODM1 faces major binary risks: failure in clinical studies, inability to secure US and EU approval, or underperformance versus peak commercial revenue estimates due to market size, penetration, or pricing. Additional pressure comes from competitive, regulatory, and financing risks, including likely future external funding needs and the possibility that capital access constraints delay or terminate development campaigns.