Analyst Mayank Mamtani of B.Riley Financial reiterated a Buy rating on Cognition Therapeutics (CGTX – Research Report), retaining the price target of $5.00.
Mayank Mamtani has given his Buy rating due to a combination of factors surrounding Cognition Therapeutics’ prospects, particularly its lead program, CT1812. His optimism is rooted in the anticipated release of two key mid-stage clinical trial readouts in 2024, which are expected to provide significant data on the drug’s safety, cognitive effects, and biomarker efficacy. The trials in question are focused on Alzheimer’s and Lewy Body dementia, and the market is highly attentive to the potential of CT1812 to meet a relatively low efficacy threshold for success, as indicated by feedback from key opinion leaders in Alzheimer’s research.
Furthermore, CT1812 has demonstrated a favorable safety and tolerability profile, which is encouraging when compared to other treatments in the same therapeutic area. Notably, no severe side effects related to amyloid-related imaging abnormalities (ARIA) or liver enzyme elevation have been reported, which are common concerns in Alzheimer’s drug development. The drug’s mechanism of action, involving the displacement of oligomers from synaptic receptors, is also being evaluated for its potential to complement existing anti-amyloid beta monoclonal antibodies, presenting an opportunity for a combination therapy approach. The additional biomarker datasets are anticipated to further substantiate the disease-modifying potential of CT1812, making the case for a promising therapeutic option in the treatment of dementia-related diseases.
In another report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $9.00 price target.
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Cognition Therapeutics (CGTX) Company Description:
Cognition Therapeutics Inc is a clinical-stage biopharmaceutical company engaged in the discovery and development of innovative, small molecule therapeutics targeting age-related degenerative diseases and disorders of the central nervous system and retina.
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