Alpha Cognition Inc, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $20.00 price target.
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Ram Selvaraju’s rating is based on promising preclinical data for Alpha Cognition’s ALPHA-1062, which shows potential in treating mild traumatic brain injury (mTBI). The study, supported by the U.S. Department of Defense and conducted with the U.S. Department of Veterans Affairs and the Seattle Institute of Biomedical and Clinical Research, demonstrated that ALPHA-1062 significantly reduces toxic forms of Tau protein associated with TBI and Alzheimer’s disease. This reduction suggests that ALPHA-1062 could play a crucial role in treating TBI and potentially lowering the risk of Alzheimer’s disease later in life.
Additionally, ALPHA-1062 has shown benefits in reducing neuroinflammation, as evidenced by a decrease in myeloid cells and astrocytes, which are involved in neuroinflammation and neurotransmitter regulation. The treatment also increased nerve growth factor receptor expression, which is vital for neuronal survival. These findings, along with the company’s plans to further develop ALPHA-1062 for sublingual administration, support the Buy rating and indicate potential upside if clinical success is achieved in this new indication.