Gain Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $5.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Jason McCarthy has given his Buy rating due to a combination of factors surrounding Gain Therapeutics. The company’s lead drug candidate, GT-02287, is in clinical development for Parkinson’s disease, and the upcoming 90-day data from the Phase 1b trial is anticipated to provide significant insights. This trial, which is fully enrolled, will evaluate the drug’s safety, tolerability, and its potential to modulate glucocerebrosidase activity, which is crucial for addressing neurodegeneration in Parkinson’s patients.
Moreover, Gain Therapeutics has secured sufficient financial runway through recent equity financing, ensuring the company can continue its development efforts without immediate financial strain. The positive preclinical and Phase 1 results, combined with the potential for GT-02287 to serve as a disease-modifying treatment, underpin McCarthy’s optimistic outlook. The valuation model also supports a favorable price target, factoring in risk adjustments and discount rates, which further justifies the Buy recommendation.
According to TipRanks, McCarthy is an analyst with an average return of -21.3% and a 26.76% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Capricor Therapeutics, and OS Therapies Incorporated.
In another report released today, Oppenheimer also maintained a Buy rating on the stock with a $8.00 price target.