All You Need to Know About PepGen (PEPG) Rating Upgrade to Buy

Core Viewpoint - PepGen, Inc. (PEPG) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system reflects changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for PepGen suggest an improvement in the company's underlying business, likely leading to an increase in stock price [5]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [7]. - The upgrade of PepGen to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10]. Earnings Estimate Revisions for PepGen - For the fiscal year ending December 2024, PepGen is expected to earn -$2.73 per share, reflecting a year-over-year change of 17.3% [8]. - Over the past three months, the Zacks Consensus Estimate for PepGen has increased by 9%, indicating a positive trend in analyst expectations [8].