Analyst Soumit Roy from JonesTrading maintained a Buy rating on CervoMed and keeping the price target at $20.00.
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Soumit Roy has given his Buy rating due to a combination of factors related to CervoMed’s recent clinical trial data. The company presented promising biomarker results from their Phase 2b RewinD-LB trial, which showed significant reductions in GFAP levels and an increase in the Amyloid β 42/40 ratio, suggesting a lower likelihood of amyloidosis in the brain. Additionally, there was a slight reduction in NfL chains, indicating a positive impact on cognitive activity and disease progression.
These findings are further supported by a recent discussion with CervoMed’s CEO, Dr. John Alam, who provided insights into the ongoing development of neflamapimod and the upcoming Phase 3 trial. The reduction in plasma GFAP levels was notably correlated with improvements in clinical measures, reinforcing the potential efficacy of the treatment. Given these encouraging results and the strategic direction of the company, Roy’s recommendation reflects optimism about CervoMed’s future performance.