Longeveron (LGVN) has received a new Buy rating, initiated by H.C. Wainwright analyst, Boobalan Pachaiyappan.
Boobalan Pachaiyappan’s Buy rating for Longeveron’s stock is grounded on the potential of their lead product candidate, Lomecel-B, to transform the treatment landscape for two severe conditions: hypoplastic left heart syndrome (HLHS) and Alzheimer’s disease (AD). His optimism is particularly fueled by Lomecel-B’s potential in HLHS, a rare and life-threatening cardiac condition in newborns, where he sees an attractive niche market with high pricing power and the possibility of self-commercialization by Longeveron. The product has received Orphan Drug and Rare Pediatric Disease designations, which could lead to additional benefits such as Priority Review and the option to sell a Priority Review Voucher for significant capital.
Pachaiyappan also emphasizes the encouraging early clinical data from the ELPIS-I study in children with HLHS and the ongoing Phase 2b study expected to be completed next year, with results that could expedite a Biologics License Application. Moreover, while Alzheimer’s disease represents a more uncertain and longer-term opportunity, initial Phase 2 data has shown promise, potentially leading to a significant market if successful. This combination of near-term commercial potential in HLHS and the long-term blockbuster possibility in AD contributes to the analyst’s positive outlook and the $6 price target for Longeveron.
See today’s best-performing stocks on TipRanks >>
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LGVN in relation to earlier this year.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Longeveron (LGVN) Company Description:
Longeveron LLC is a biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions. It is involved in sponsoring clinical trials in the following indications: Aging Frailty, Alzheimer’s disease, the Metabolic Syndrome, Acute Respiratory Distress Syndrome (ARDS), and hypoplastic left heart syndrome (HLHS).
Read More on LGVN:
- Longeveron files to sell 5.02M shares of Class A common stock for holders
- Longeveron presents long-term survival data from ELPIS 1 trial
- Long-term Survival Data from Longeveron’s ELPIS 1 Trial Presented at the 2023 Scientific Sessions of the American Heart Association
- Longeveron Reports Third Quarter 2023 Results and Provides Corporate Update
- Longeveron expects cash to cover requirements into 1Q24
