Coya Therapeutics, 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 $18.00 price target.
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Ram Selvaraju has given his Buy rating due to a combination of factors including the commencement of patient dosing in the ALSTARS Phase 2 trial for COYA 302, which is designed to treat amyotrophic lateral sclerosis (ALS). This trial is significant as it is a multi-center, randomized, double-blind, placebo-controlled study that aims to assess the safety and efficacy of COYA 302 in ALS patients. Additionally, the initiation of this trial triggers a $4.2 million milestone payment from Coya’s partner, Dr. Reddy’s Laboratories, which provides a financial boost to the company.
Moreover, several upcoming catalysts could potentially enhance Coya’s value, such as the receipt of milestone payments, publication of important biomarker data, and new data from ongoing trials in Alzheimer’s and frontotemporal dementia. The valuation of Coya is supported by a discounted cash flow analysis, which projects a price target of $18 per share. However, Selvaraju also notes risks such as potential clinical setbacks, regulatory challenges, and partnership risks, which investors should consider.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $17.00 price target.