Analyst affirms Buy rating on Hoth Therapeutics, notes ‘positive start’ for HT-ALZ
Investing.com | Editor Rachael Rajan
Published Apr 02, 2024 13:04
On Tuesday, EF Hutton maintained its Buy rating on shares of Hoth Therapeutics (NASDAQ:HOTH), with a price target of $7.00.
The firm's stance comes after the biopharmaceutical company reported positive results from a pre-clinical study targeting Alzheimer's Disease two weeks prior. The study outcomes showed a decrease in AB levels in the brain's interstitial fluid, a reduction in anxiety behavior, and enhancements in cognitive functions within the models used.
Hoth Therapeutics' recent study is a step forward in the treatment of neuroinflammation and cognitive deficits associated with Alzheimer's Disease. The data, which was announced on a Sunday two weeks ago, marks a significant development in the company's efforts to address this challenging medical condition.
"While any possible revenues from HT-ALZ are a long way off, we like the promising start," said the analyst.
The preclinical models used in Hoth Therapeutics' study have provided encouraging results. The reduction of AB levels is a noteworthy finding, as these protein fragments can clump together to form plaques that are a hallmark of Alzheimer's Disease. The study also noted improvements in the models' cognitive functions, which are often impaired in individuals suffering from Alzheimer's.
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