Buy Rating Affirmed for Gain Therapeutics on Promising Parkinson’s Treatment and Solid Financial Outlook

Gain Therapeutics (GANX – Research Report), 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 $9.00 price target.

Ram Selvaraju has given his Buy rating due to a combination of factors, including promising preclinical data for Gain Therapeutics’ lead molecule GT-02287 and its financial outlook. GT-02287 has demonstrated significant potential in altering the course of Parkinson’s disease treatment, particularly with its ability to reverse motor impairment and rescue dopaminergic neurons. The molecule’s impressive effects on neuronal survival and lysosomal pathology, along with the anticipated release of favorable Phase 1 data in mid-2024, suggest that GT-02287 could be poised for clinical development in Parkinson’s disease by the end of the year. These advancements mark 2024 as a pivotal year for Gain Therapeutics.
Financially, Gain Therapeutics reported its 2023 results aligning with projections and retains sufficient cash reserves to fund operations into the first quarter of 2025. Selvaraju’s analysis incorporates a discounted cash flow method that yields an enterprise value of approximately $255 million, supporting a $9 per share price objective. This valuation, coupled with the company’s strategic positioning and the progress of GT-02287, substantiates the Buy rating despite the outlined risks, which include potential delays, safety concerns, and regulatory hurdles.

Selvaraju covers the Healthcare sector, focusing on stocks such as BridgeBio Pharma, Axsome Therapeutics, and Genmab. According to TipRanks, Selvaraju has an average return of 11.1% and a 42.03% success rate on recommended stocks.

In another report released on March 26, Maxim Group also maintained a Buy rating on the stock with a $10.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Gain Therapeutics (GANX) Company Description:

Gain Therapeutics Inc is a development-stage biotechnology company developing novel therapeutics to treat diseases caused by protein misfolding, with an initial focus on lysosomal storage disorders (LSDs), including rare genetic diseases and neurological disorders. Its pipeline includes the GLB1 gene, GBA1 gene, IDUA gene, and GALC gene.