Maxim Group analyst Jason McCarthy maintained a Buy rating on Gain Therapeutics yesterday and set a price target of $5.00.
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Jason McCarthy has given his Buy rating due to a combination of factors surrounding Gain Therapeutics’ promising developments with their drug GT-02287 for Parkinson’s disease. The recent approval from Australian regulatory bodies to extend the dosing period in the Phase 1b study by nine months is a significant milestone, allowing for up to 12 months of treatment. This extension, coupled with the positive feedback from the independent data monitoring committee regarding the safety of the study, underscores the potential of GT-02287.
Furthermore, the drug’s mechanism as an allosteric modulator of glucocerebrosidase (GCase) shows promise in enhancing enzyme activity and reducing neuroinflammation, which are critical in treating Parkinson’s disease. The upcoming data from the Phase 1b trial, expected in the fourth quarter of 2025, will provide crucial insights into the drug’s efficacy and could serve as a catalyst for the stock. If the data is positive, it could validate the drug’s potential and pave the way for a larger Phase 2 study, reinforcing the Buy rating on GANX shares.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $8.00 price target.