BTIG analyst Thomas Shrader maintained a Buy rating on Coya Therapeutics, Inc. (COYA – Research Report) yesterday and set a price target of $15.00.
Thomas Shrader has bestowed a Buy rating on Coya Therapeutics, Inc. for a variety of reasons. One of the key reasons being the full enrollment of the AD study where low-dose IL-2 is being used. This approach to immune modulation is seen as well-established, and Coya Therapeutics’ proprietary form of IL-2, COYA 301, is being used as a monotherapy in the study, which has shown promising early results.
Besides, in the ALS program, where IL-2 monotherapy is not expected to be sufficient to slow the highly inflammatory disease, the Key Opinion Leaders (KOL) believe CTLA4 agonists are a natural partner for low-dose IL-2. This is due to their ability to reduce antigen presentation. Furthermore, the company is planning to start a Phase 2 trial in about 150 ALS patients in the first quarter of 2024. Lastly, the company’s efforts to improve the IP portfolio surrounding COYA 302 through the use of biomarkers and its collaboration with premier labs in the ALS field also contribute to the Buy rating.
In another report released on October 9, Chardan Capital also reiterated a Buy rating on the stock with a $11.00 price target.
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Coya Therapeutics, Inc. (COYA) Company Description:
Coya Therapeutics Inc is a clinical-stage biotechnology company focused on developing proprietary medicinal products to modulate the function of regulatory T cells. It is developing its multi-modality Treg therapies for neurodegenerative, autoimmune, and metabolic diseases.
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