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6 stories mentioning PASG

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Sectors

Sector Update: Health Care Stocks Softer Late Afternoon

Health care stocks declined late Tuesday afternoon, with the NYSE Health Care Index down 1% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.9%.The iShares Biotechnology ETF (IBB) decreased 1%.In corporate news, Passage Bio (PASG) faces a tougher path after US regulators told the company it will need to run a randomized study to support approval of its experimental treatment PBFT02, a move that adds time, cost, and uncertainty, Wedbush said Tuesday in a report. Wedbush downgraded Passage Bio's stock to neutral from outperform and cut its price target to $8 from $32. Passage Bio shares dropped 2.9%.Merck (MRK) and Japanese health care company Eisai said Tuesday that phase 3 trials of two drug combinations failed to meet primary endpoints of progression-free survival and overall survival as a first-line treatment of patients with advanced clear cell renal cell carcinoma compared with Keytruda plus Lenvima. Merck shares fell 3.7%.UnitedHealth Group (UNH) raised its full-year earnings outlook on Tuesday as the health insurance giant recorded an unexpected annual increase in its first-quarter results. Its shares jumped past 7%.Quest Diagnostics (DGX) shares popped more than 4% after it reported higher Q1 adjusted earnings and net revenue and raised its 2026 outlook.

$DGX$MRK$PASG$UNH
Sectors

Sector Update: Health Care

Health care stocks declined late Tuesday afternoon, with the NYSE Health Care Index down 0.9% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.6%.The iShares Biotechnology ETF (IBB) decreased 0.6%.In corporate news, Passage Bio (PASG) faces a tougher path after US regulators told the company it will need to run a randomized study to support approval of its experimental treatment PBFT02, a move that adds time, cost, and uncertainty, Wedbush said Tuesday in a report. Wedbush downgraded Passage Bio's stock to neutral from outperform and cut its price target to $8 from $32. Passage Bio shares dropped 0.8%.

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Wire

Passage Bio Faces Tougher FDA Road After Trial Shift, Wedbush Says

Passage Bio (PASG) faces a tougher path after US regulators told the company it will need to run a randomized study to support approval of its experimental treatment PBFT02, a move that adds time, cost, and uncertainty, Wedbush Securities said Tuesday in a report.A randomized trial of PBFT02 for frontotemporal dementia would be expensive and slow, though the condition has no approved treatments, the report said.Biomarker results from the ongoing study still look promising, and new MRI data adds support that the therapy could help patients, Wedbush said.Wedbush downgraded Passage Bio's stock to neutral from outperform and cut its price target to $8 from $32 after removing PBFT02 from its valuation, saying the treatment may still have potential but the regulatory hurdles are now too high to support a more positive view.Passage Bio ended 2025 with $46.3 million in cash, and Wedbush's new price target reflects projected cash per share by the end of 2026 after double-digit operating-expense cuts in the coming quarters, according to the report.Price: $6.01, Change: $-0.24, Percent Change: -3.84%

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Wire

Passage Bio Seen as Undervalued Despite FDA Setback, Oppenheimer Says

Passage Bio (PASG) is "undervalued" given PBFT02's distinct profile, with the US Food and Drug Administration's feedback extending the path to approval, Oppenheimer said in a note Tuesday.The analysts said the company on Monday released data from its upliFT-D study along with feedback from the FDA. The update was mixed. On the positive side, the clinical data suggests PFBT02 may still be worth pursuing, especially in patients with milder disease. However, the FDA's feedback was a setback. It indicated that a single-arm pivotal study would not be sufficient for approval.The analysts said they see the promise of the progranulin target in certain neurodegenerative diseases. Although other programs in this area have struggled to show clear benefits in frontotemporal dementia, or FTD, PBFT02 stands out due to its mechanism, administration, and the data seen so far. As a one-time, non-surgical treatment, it could offer a strong commercial advantage if approved."We view Passage Bio as undervalued given PBFT02's relative profile versus others in the pipeline for FTD, which remains highly underserved," the analysts added.Oppenheimer adjusted its price target on Passage Bio from $30 to $15 while maintaining its outperform rating.Price: $5.96, Change: $-0.30, Percent Change: -4.72%

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Research

Wedbush Downgrades Passage Bio to Neutral From Outperform, Cuts Price Target to $8 From $32

Passage Bio (PASG) has an average rating of overweight and mean price target of $12, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$PASG
Research

Chardan Downgrades Passage Bio to Neutral From Buy, Cuts Price Target to $7 From $21

Passage Bio (PASG) has an average rating of overweight and mean price target of $18.50, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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