Jason Butler, an analyst from JMP Securities, reiterated the Buy rating on Vigil Neuroscience Inc (VIGL – Research Report). The associated price target is $23.00.
Jason Butler’s Buy rating for Vigil Neuroscience Inc is primarily based on the promising interim results from the company’s Phase 2 IGNITE trial of VGL101, a potential treatment for ALSP. Butler perceives these results, which show encouraging signs of treatment benefit on validated biomarkers of disease progression, as a strong indication of VGL101’s potential. The fact that such positive signals were observed as early as six months into the trial, when it usually takes a year to see visible changes after a stem cell transplant, also bolsters Butler’s confidence in the drug’s efficacy.
Furthermore, Butler cites the high correlation between serum and CSF NfL levels demonstrated in the trial, which supports the use of serum levels as an alternative to CSF sampling. This is a significant advantage as it makes the sampling process substantially easier. In addition, the positive perspectives shared by Dr. David Lynch, a participant in the IGNITE trial, about the results and the drug’s potential to slow disease progression at an early stage, further underpin Butler’s Buy rating for Vigil Neuroscience Inc.
In another report released on November 13, Mizuho Securities also maintained a Buy rating on the stock with a $13.00 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 Positive Interim Data from Phase 2 IGNITE Proof-of-Concept Clinical Trial Evaluating Iluzanebart (VGL101) as a Treatment for ALSP and from Ongoing Natural History Study ILLUMINATE
- 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
