Ascendiant analyst Edward Woo maintained a Buy rating on Alzamend Neuro (ALZN – Research Report) yesterday and set a price target of $21.00.
Edward Woo has given his Buy rating due to a combination of factors that suggest potential in Alzamend Neuro’s future prospects. Primarily, the company’s focus on developing treatments for Alzheimer’s disease, a condition with significant unmet medical needs, showcases a substantial market opportunity. Alzamend’s therapeutic candidates, AL001 and AL002, are innovative approaches to combat Alzheimer’s, with AL001 already demonstrating positive top-line data in Phase 2 clinical trials.
Furthermore, the anticipation of clinical trial advancements for both drug candidates in the fiscal years 2024 and 2025 could act as catalysts for the company’s stock value. While recognizing the inherent risks associated with clinical-stage biopharmaceutical companies, Woo believes the potential for high rewards justifies these risks, especially given the current attractive valuation of Alzamend Neuro’s stock. The lowered 12-month price target still represents a significant upside, factoring in the company’s prospects against the high-risk profile.
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Alzamend Neuro (ALZN) Company Description:
Alzamend Neuro Inc is an early clinical-stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders. Its pipeline of product candidates consist of two novel therapeutic drug candidates namely AL001 a patented ionic co-crystal technology delivering a therapeutic combination of lithium, proline and salicylate, and; AL002 a patented method using a mutant peptide sensitized cell as a cell-based therapeutic vaccine that reduces beta-amyloid plaque and seeks to restore the ability of the patient’s immunological system to combat Alzheimer’s.
