In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Gain Therapeutics (GANX – Research Report), with a price target of $5.00.
Jason McCarthy has given his Buy rating due to a combination of factors surrounding Gain Therapeutics’ promising developments. The company’s lead drug candidate, GT-02287, is showing potential in treating Parkinson’s disease, with or without a GBA1 mutation. Recent preclinical data presented at a major conference demonstrated significant improvements in motor function and reductions in disease progression biomarkers, which are encouraging signs for the drug’s efficacy.
Moreover, the ongoing Phase 1b trial is on track to complete enrollment soon, with interim data expected in mid-2025 and full results by the end of the year. This trial is crucial as it assesses the safety and tolerability of GT-02287 while also evaluating its pharmacokinetics and biomarker impacts. The positive preclinical results, coupled with the upcoming trial data, suggest that GT-02287 could be a significant advancement in Parkinson’s treatment, thus justifying the Buy rating for GANX shares.
In another report released today, Scotiabank also maintained a Buy rating on the stock with a $12.00 price target.