Ram Selvaraju, an analyst from H.C. Wainwright, reiterated the Buy rating on Gain Therapeutics (GANX – Research Report). The associated price target is $8.00.
Ram Selvaraju has given his Buy rating due to a combination of factors, primarily centered around the promising developments in Gain Therapeutics’ clinical trials and preclinical data for their lead compound, GT-02287. The recent initiation of the Phase 1b trial for GT-02287, targeting Parkinson’s disease, marks a significant milestone, with the trial designed to assess safety, tolerability, and various biomarkers in patients. This follows a successful Phase 1 study in healthy volunteers, which demonstrated favorable safety, tolerability, and significant target engagement, suggesting potential therapeutic benefits.
Furthermore, the preclinical data for GT-02287 is highly encouraging, showing the compound’s ability to rescue neuromuscular and cognitive deficits in animal models, and suggesting a disease-modifying effect. The compound has also demonstrated neuroprotective properties by reducing mitochondrial reactive oxygen species and ameliorating lysosomal pathology. These promising results, combined with the anticipation of positive clinical data, underpin the reiterated Buy rating and a 12-month price target of $8.
According to TipRanks, Selvaraju is a 4-star analyst with an average return of 3.7% and a 39.03% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Vanda, and Emergent Biosolutions.
In another report released on March 15, Roth MKM also reiterated a Buy rating on the stock with a $7.00 price target.