Analyst Rami Katkhuda of LifeSci Capital maintained a Buy rating on Eledon Pharmaceuticals, retaining the price target of $9.00.
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Rami Katkhuda has given his Buy rating due to a combination of factors surrounding Eledon Pharmaceuticals’ potential in the kidney transplantation market. The company’s lead candidate, tegoprubart, is being evaluated in the Phase II BESTOW study, which aims to demonstrate its superiority over the current standard of care, tacrolimus, in terms of mean eGFR at 12 months post-transplant. The positive outlook is supported by insights from a key opinion leader who expressed optimism about the drug’s potential success, despite the small sample size in earlier trials.
Moreover, the current treatment landscape for kidney transplants involves significant unmet needs, as the standard regimen, including tacrolimus, is associated with adverse effects that can severely impact patients’ quality of life. Tegoprubart has the potential to address these issues by offering improved outcomes and fewer side effects. If successful, it could capture a meaningful portion of the market, particularly for patients who experience complications with existing therapies. These factors collectively contribute to the Buy rating assigned by Rami Katkhuda.
According to TipRanks, Katkhuda is a 5-star analyst with an average return of 21.9% and a 51.83% success rate. Katkhuda covers the Healthcare sector, focusing on stocks such as VYNE Therapeutics, Eledon Pharmaceuticals, and Dianthus Therapeutics.
In another report released on September 2, H.C. Wainwright also reiterated a Buy rating on the stock with a $9.00 price target.