In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Alterity Therapeutics, with a price target of $12.00.
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Jason McCarthy has given his Buy rating due to a combination of factors related to Alterity Therapeutics’ recent clinical trial results. The company announced positive topline data from its open-label Phase 2 study of ATH434 in advanced multiple system atrophy (MSA), which builds on prior positive data from an earlier-stage trial. The treatment showed clinical benefits by slowing disease progression and stabilizing symptoms, with no serious treatment-related adverse events reported.
Additionally, biomarker data indicated that ATH434 effectively slowed brain atrophy and reduced iron accumulation, supporting its mechanism of action. Despite the positive clinical outcomes, the stock price has dropped, attributed to profit-taking after significant gains earlier in the year. McCarthy sees this as an opportunity to invest in Alterity, given its promising results and potential as a disease-modifying therapy for MSA, along with the company’s financial stability through 2026.