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Investing.com - Lucid Capital Markets has reiterated its Buy rating and $20.00 price target on Coya Therapeutics (NASDAQ:COYA), representing a potential 257% upside from the current price of $5.60, following the company’s announcement of its ALSTARS Trial initiation. The $92 million market cap biotech company currently maintains a FAIR financial health rating according to InvestingPro analysis.
The Phase 2 trial is designed as a randomized, multi-center, double-blind, placebo-controlled study to evaluate COYA 302’s safety and effectiveness in patients with Amyotrophic Lateral Sclerosis (ALS).
During the initial 24-week blinded phase, participants will be randomly assigned to receive either one of two COYA 302 doses or a placebo, according to the trial design details (NCT07161999).
Patients who complete the first stage will have the option to continue into a 24-week blinded extension phase, where all participants will receive COYA 302 at one of the predetermined doses.
The extension phase aims to further assess the long-term safety and efficacy of the treatment for ALS patients, with Lucid Capital Markets maintaining its 12-month price target of $20 per share.
In other recent news, Coya Therapeutics has made significant strides with its COYA 302 treatment for amyotrophic lateral sclerosis (ALS). The U.S. Food and Drug Administration (FDA) accepted the company’s Investigational New Drug (IND) application, which triggered a $4.2 million milestone payment from its partner, Dr. Reddy’s Laboratories Ltd. Additionally, Coya Therapeutics has resubmitted its IND application for a Phase 2 clinical trial, including additional non-clinical data requested by the FDA. This trial is set to be a randomized, double-blind, placebo-controlled, multi-center study. Analyst firms have responded positively, with H.C. Wainwright reiterating a Buy rating and setting an $18 price target, while BTIG also maintains a Buy rating with a $15 price target, citing positive clinical data for the COYA-302 therapy. Lake Street Capital Markets initiated coverage on Coya Therapeutics with a Buy rating and a $16 price target, highlighting the potential upside of the COYA-302 treatment. These developments indicate ongoing interest and confidence from analysts in Coya Therapeutics’ ALS treatment progress.
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