Buy Rating Affirmed for Gain Therapeutics on Promising GT-02287 Clinical Progress

Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Gain Therapeutics (GANX – Research Report), retaining the price target of $10.00.

Jason McCarthy has given his Buy rating due to a combination of factors surrounding the promising early-stage clinical results and future development plans of Gain Therapeutics’ candidate drug, GT-02287. The positive safety and tolerability profile demonstrated in the single ascending dose study is a critical step in the drug’s development, as it shows the potential for safe administration up to the highest planned dose without serious adverse events.
Moreover, the upcoming multiple ascending dose study, which is expected to be completed in the second quarter of 2024, is set to provide further insights into the safety and tolerability over a longer treatment period. The anticipated proof-of-concept study in Parkinson’s disease patients could potentially establish GT-02287 as a disease-modifying therapy, addressing a significant unmet need in a subset of patients with GBA1 mutations. This strategic targeting, along with the drug’s mechanism of action that has shown promising results in preclinical models, fuels optimism for its efficacy and supports the Buy rating.

In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $9.00 price target.

Based on the recent corporate insider activity of 8 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 GANX in relation to earlier this year.

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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.