Addex Therapeutics upgraded to Buy from Neutral at H.C. Wainwright

H.C. Wainwright upgraded Addex Therapeutics to Buy from Neutral with a $30 price target. The analyst says the Neurosterix spinout is a “transformative transaction” for Addex that should alleviate any near-term financing overhang since the company’s own internal cash burn is likely to decline to minimal levels. Addex management indicated in the company’s most recent earnings update that the cash runway now extends past 2026, the analyst tells investors in a research note.