Analyst Graig Suvannavejh of Mizuho Securities maintained a Buy rating on Vigil Neuroscience Inc (VIGL – Research Report), with a price target of $13.00.
Graig Suvannavejh has given his Buy rating due to a combination of factors which he believes indicate Vigil Neuroscience Inc’s strong potential for future growth. The company’s recent advancements in its innovative pipeline for the treatment of neurodegenerative diseases is a key factor in this rating. The successful commencement of a Phase 1 study for VG-3927, a small molecule TREM2 agonist, and the progression of the Phase 2 IGNITE study for VGL101, an anti-TREM2 monoclonal antibody for a specific rare and fatal neurodegenerative disease, are noteworthy. Suvannavejh sees the forthcoming Phase 2 IGNITE data as a potential catalyst for the stock, assuming the data is positive.
The company’s third quarter update was uneventful, however, this is not seen as a negative given the company’s stage of development. More important is the company’s successful execution of its pipeline, achieving stated timelines and objectives. The anticipated announcement of top-line Phase 2 IGNITE interim data is eagerly awaited and is expected to be released via a press release, which will be followed by a call for the investment community. Despite the data being derived from a relatively small sample size and short treatment period, Suvannavejh is primarily focused on safety and tolerability. Lastly, due to the heterogeneity in patients, the company’s use of natural history data for comparison will be crucial in determining the biomarker behavior in the target population.
Suvannavejh covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Harmony Biosciences Holdings, and Bioxcel Therapeutics. According to TipRanks, Suvannavejh has an average return of -13.3% and a 34.11% success rate on recommended stocks.
In another report released on November 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $24.00 price target.
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Vigil Neuroscience Inc (VIGL) Company Description:
Vigil Neuroscience Inc is a microglia-focused therapeutics company treating both rare and common neurodegenerative diseases by restoring the vigilance of microglia, the sentinel cells of the brain’s immune system. It is utilizing the tools of modern neuroscience drug development across multiple therapeutic modalities to rapidly deliver precision-based therapies to improve the lives of patients and families.
Read More on VIGL:
- Vigil Neuroscience reports Q3 EPS (53c), consensus (57c)
- Vigil Neuroscience Reports Third Quarter 2023 Financial Results and Provides Business Update
- Arm initiated, SQM downgraded: Wall Street’s top analyst calls
- Vigil Neuroscience initiated with an Outperform at JMP Securities
- Vigil Neuroscience announces first patient dosed in Phase 1 trial of VG-3927
