Alpha Cognition Inc, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $20.00 price target.
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Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Alpha Cognition Inc’s strategic developments and market potential. A significant driver is the acceptance of the regulatory submission for benzgalantamine, branded as ZUNVEYL®, by the National Medical Products Administration in China. This development, facilitated by their partner China Medical System Holdings, positions the company for potential approval next year, opening up substantial market opportunities in Asia, excluding Japan, as well as in Australia and New Zealand.
Another factor influencing the Buy rating is the successful U.S. launch of ZUNVEYL®. The rollout has been met with positive feedback from healthcare providers, with a significant portion already prescribing and refilling prescriptions. The drug’s safety profile remains strong, with no reported adverse events, and it has achieved solid sales traction even without extensive contracting. These developments suggest a promising sales trajectory, bolstered by expected contracting and expanded outreach efforts, which could significantly enhance Alpha Cognition’s financial performance in the near future.