Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Alterity Therapeutics (ATHE – Research Report), retaining the price target of $12.00.
Jason McCarthy has given his Buy rating due to a combination of factors including the promising results from Alterity Therapeutics’ Phase 2 study in early-stage multiple system atrophy (MSA). The study demonstrated that their drug, ATH434, effectively reduced iron accumulation in critical brain regions, which is a key factor in the progression of MSA. This reduction in iron content supports the drug’s mechanism of action and shows significant clinical benefits, such as improvements in the Unified MSA Rating Scale and Clinical Global Impression of Severity.
Moreover, the integration of wearable sensors in the study provided valuable insights into motor performance, further validating the technology’s utility in both current and future studies. The anticipation of topline results from the ongoing Phase 2 study in advanced MSA patients adds to the positive outlook. These developments suggest a strong potential for ATH434 in addressing MSA, justifying the Buy rating on Alterity Therapeutics’ stock.
McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Actinium Pharmaceuticals, and Medicus Pharma Ltd. According to TipRanks, McCarthy has an average return of -27.1% and a 18.59% success rate on recommended stocks.