In a report released yesterday, Thomas Shrader from BTIG maintained a Buy rating on Gain Therapeutics (GANX – Research Report), with a price target of $10.00.
Thomas Shrader has given his Buy rating due to a combination of factors. Firstly, Gain Therapeutics’ approach of stabilizing mutant enzymes using STAR compounds is promising, as it allows for easy assessment in test tubes. The safety aspect of these compounds, which is crucial for both the SAD and MAD cohorts, is seen as de-risking the investment. Furthermore, the data from HVs is anticipated to provide strong indications of patient safety. Any toxic effects are likely to arise from off-target interactions, therefore, preclinical data suggesting good PK data and target engagement are seen as beneficial predictors of efficacy. Shrader believes that these factors could potentially have a meaningful impact on patients’ lives.
Additionally, the financial stability of Gain Therapeutics also weighs into Shrader’s rating. The company ended 3Q23 with $12.3M in cash, cash equivalents, and marketable securities which is projected to fund operations into 3Q24. Recent updates on GT-02287’s treatment, which demonstrated significant dose-dependent reductions in αSyn aggregation, plasma Nf-L, and Iba-1 levels, are encouraging. These results correlated with improvements in motor function tests, adding to the positive outlook for the company’s products. Lastly, the company’s technology in comparison to AI, and specifically the search for allosteric modulators that stimulate enzyme function (termed STARs), is perceived as advantageous.
In another report released yesterday, Chardan Capital also reiterated a Buy rating on the stock with a $6.00 price target.
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Gain Therapeutics (GANX) Company Description:
Gain Therapeutics Inc is a development-stage biotechnology company developing novel therapeutics to treat diseases caused by protein misfolding, with an initial focus on lysosomal storage disorders (LSDs), including rare genetic diseases and neurological disorders. Its pipeline includes the GLB1 gene, GBA1 gene, IDUA gene, and GALC gene.
Read More on GANX:
- Gain Therapeutics Announces Third Quarter 2023 Financial Results and Business Update
- GANX Earnings this Week: How Will it Perform?
- Gain Therapeutics Announces Dosing of First Two Subjects in Phase 1 Clinical Trial of GT-02287, a Novel GCase-targeting Small Molecule Therapy for GBA1 Parkinson’s Disease
- Gain announces dosing of first two subjects in Phase 1 trial of GT-02287
- Gain Therapeutics to Participate at Cantor Fitzgerald Global Healthcare Conference 2023
