Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Gain Therapeutics, retaining the price target of $8.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors that highlight the potential of Gain Therapeutics’ GT-02287 in treating Parkinson’s disease. The recent key opinion leader event underscored the promising mechanism of action of GT-02287, which focuses on stabilizing and enhancing glucocerebrosidase (GCase) function. This approach is considered complementary to existing Parkinson’s treatments, offering a novel therapeutic angle.
Additionally, the Phase 1b trial results showed rapid improvements in Parkinson’s symptoms, as evidenced by better scores on the Movement Disorder Society Unified Parkinson’s Disease Rating Scale. The potential for continued symptom improvement over longer-term studies further supports the positive outlook. The mechanistic features of GT-02287, such as its role in supporting mitochondrial function and reducing endoplasmic reticulum stress, contribute to its perceived efficacy and neuroprotective benefits, justifying the Buy rating and a 12-month price target of $8.
According to TipRanks, Selvaraju is a 5-star analyst with an average return of 25.5% and a 57.66% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Bioxcel Therapeutics, Emergent Biosolutions, and Vanda.
In another report released on October 15, BTIG also maintained a Buy rating on the stock with a $5.00 price target.