Analyst Boobalan Pachaiyappan of H.C. Wainwright reiterated a Buy rating on Gain Therapeutics (GANX – Research Report), with a price target of $10.00.
Boobalan Pachaiyappan’s Buy rating for Gain Therapeutics can be attributed to several key factors. Firstly, the company’s lead candidate GT-02287 is progressing well in a Phase 1 trial, with completion expected in late 2023 or early 2024. The company anticipates demonstrating the safety and tolerability of GT-02287 after this trial, which is an important milestone in the development process. Secondly, the potential of GT-02287 to provide early clinical proof-of-concept for target engagement in human subjects is slated to be accomplished in the second quarter of 2024. This, combined with the initiation of its first-in-patient proof of concept study in the second half of 2024, provides further optimism.
In addition to these clinical catalysts, the intriguing activity profile of GT-02287 in preclinical studies adds weight to the Buy rating. The candidate has shown potential to restore function of a crucial enzyme affected by the most common genetic risk factor for Parkinson’s disease (PD). This restoration had a significant impact on PD animal models, suggesting potential to slow or halt PD progression. Moreover, Gain Therapeutics’ financial results also appeared strong, with a narrower net loss than estimated and sufficient cash operations into 2024. Finally, the valuation and risks assessment factored into the Buy rating, with the firm’s discounted cash flow-based approach estimating a price objective of $10 per share.
According to TipRanks, Pachaiyappan is an analyst with an average return of -20.4% and a 28.57% success rate. Pachaiyappan covers the Healthcare sector, focusing on stocks such as Brainsway, Gain Therapeutics, and Galecto.
In another report released on November 14, Maxim Group also maintained a Buy rating on the stock with a $10.00 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 reports Q3 EPS (37c), consensus (45c)
- 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
