H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Niagen Bioscience (NAGE – Research Report) today and set a price target of $11.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Niagen Bioscience’s strategic initiatives and promising clinical developments. The recent corporate rebranding and name change from ChromaDex to Niagen Bioscience, along with the new NASDAQ ticker ‘NAGE’, are seen as timely moves that align with the company’s expanding focus beyond nutritional supplements into potential pharmaceutical applications. This rebranding is expected to capitalize on the growing interest in their core nicotinamide riboside (NR) franchise.
Furthermore, the ongoing NO-PARK Phase 2/3 study, which investigates the effects of NR on Parkinson’s disease, is anticipated to deliver top-line results in the first half of 2025. A recent Phase 1 trial published in Nature Communications demonstrated that high doses of NR were well-tolerated and showed mild improvements in Parkinson’s symptoms, alongside significant increases in blood NAD+ levels. These findings, coupled with supportive preclinical studies, suggest a therapeutic potential for NR in Parkinson’s treatment. If the upcoming trial results are favorable, Niagen Bioscience may pursue regulatory approval for a pharmaceutical-grade formulation of NR, potentially through partnerships or spinouts, which could significantly enhance the company’s market position.
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