Neuphoria Therapeutics price target raised to $35 from $18 at Maxim

Maxim raised the firm’s price target on Neuphoria Therapeutics (NEUP) to $35 from $18 and keeps a Buy rating on the shares. The firm cites the company’s announcement that enrollment has been completed in the Phase 3 ‘AFFIRM-1’ study of BNC210 in social anxiety disorder, positioning for a top-line data readout in early Q4, the analyst tells investors in a research note. Maxim adds that it continues to believe the risk/reward is favorable and as such, lowers the discount rate in its valuation model to 30% from 35%, which raises its price target