H.C. Wainwright analyst Ram Selvaraju has reiterated their bullish stance on LGVN stock, giving a Buy rating on March 19.
Ram Selvaraju has given his Buy rating due to a combination of factors including the positive regulatory developments and promising clinical trial outcomes for Longeveron’s laromestrocel (Lomecel-B™) as a potential treatment for Alzheimer’s disease. The recent alignment with the FDA on the design of a pivotal Phase 2/3 trial, along with the FDA’s willingness to consider a Biologics License Application based on interim results, underscores the potential for significant advancements in the treatment of Alzheimer’s. Additionally, the absence of amyloid-related imaging abnormalities, which are common side-effects in current anti-amyloid treatments, positions laromestrocel as a potentially safer alternative.
Furthermore, Longeveron’s prior successful clinical trials, including the Phase 1 and Phase 2a CLEAR-MIND trials, have demonstrated a favorable safety profile and potential efficacy in cognitive and functional domains. The FDA’s granting of both RMAT and Fast Track designations for laromestrocel further enhances its development prospects. The ongoing ELPIS II trial for hypoplastic left heart syndrome, which is nearing completion, also adds to the positive outlook, with potential for a BLA filing if results are favorable. These factors collectively contribute to Selvaraju’s confidence in Longeveron’s stock, supporting the reiterated Buy rating and a 12-month price target of $10 per share.
According to TipRanks, Selvaraju is a 4-star analyst with an average return of 4.9% and a 39.27% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Vanda, and Emergent Biosolutions.
In another report released on March 19, Roth MKM also reiterated a Buy rating on the stock with a $10.00 price target.