Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Nicox SA, retaining the price target of €1.50.
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Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Nicox SA’s promising developments with their drug candidate, NCX 470. The company has reported sustained efficacy in reducing intraocular pressure (IOP) over a 12-month period in their Phase 3 Denali trial, with no additional safety concerns. This positive outcome aligns with previous results from the Mont Blanc trial, reinforcing the drug’s potential effectiveness in treating glaucoma. Nicox is on track to submit a New Drug Application (NDA) in the U.S. by the first half of 2026, with subsequent submissions planned for China and Japan.
Furthermore, the achievement of the primary endpoint in the Denali trial has triggered a milestone payment from Nicox’s partner, Kowa, and positions the company to receive additional payments and royalties upon successful market entry. The company’s financial outlook is bolstered by these expected milestones and the management of costs by their partners, ensuring a cash runway into the third quarter of 2026. These strategic developments and financial arrangements underpin Selvaraju’s confidence in the stock, leading to the reiterated Buy rating with a price target of €1.50.
Selvaraju covers the Healthcare sector, focusing on stocks such as Bioxcel Therapeutics, Emergent Biosolutions, and Vanda. According to TipRanks, Selvaraju has an average return of 23.6% and a 57.63% success rate on recommended stocks.