PASG - Passage Bio upgraded to buy from neutral at Goldman Sachs

Goldman Sachs analyst Salveen Richter has upgraded shares of Passage Bio, Inc. (PASG) and is increasing his price target to $30 from $28.Richter is optimistic about upcoming phase 1/2 data from gene therapy PBGM01 in GM1 gangliosidosis that is expected mid-year.Richter also expects phase 1/2 data from PBKR03 in Krabbe disease in late 2021 or early-2022.He also notes that the company is developing AAV1 gene therapy PBFT02 for Frontotemporal Dementia-GRN with a phase 1/2 study slated to begin in the first half of the year with first data late this year or in early 2022."PASG's partnership with gene therapy pioneer Dr. James Wilson and the Gene Therapy Program and Orphan Disease Center at the University of Pennsylvania allows the company to choose programs that have been validated through extensive testing in preclinical disease models -- this mitigating initial developing risk prior to clinical opt-in and aiding in clinical trial design/patient

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Passage Bio upgraded to buy from neutral at Goldman Sachs