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Investing.com - H.C. Wainwright has assumed coverage on Genfit (NASDAQ:GNFT) with a Buy rating and a price target of $9.00, according to a research note released Tuesday. The stock, currently trading at $4.50, has shown strong momentum with an impressive 19% gain over the past week. According to InvestingPro data, the company has delivered a total return of 21% year-to-date.
The research firm cited Genfit’s position as an "ACLF Leader with Multiple Shots on Goal, and Platform Optionality" in its analysis of the French biotechnology company, which develops novel therapies for rare and severe liver diseases with a strategic focus on Acute-on-Chronic Liver Failure (ACLF).
H.C. Wainwright highlighted Genfit’s pipeline of distinct assets targeting ACLF through complementary mechanisms, noting the company is expected to release multiple meaningful clinical updates in 2025 and beyond, providing several potential catalysts for investors.
The firm pointed to Genfit’s track record of successful drug development and partnering, specifically mentioning the out-licensing of elafibranor to Ipsen (EPA:IPN) for primary biliary cholangitis (PBC) as evidence supporting their positive view on the company’s ability to bring its ACLF pipeline to market.
H.C. Wainwright also noted Genfit’s strong balance sheet, which it believes supports the company’s multiple development programs without an immediate need for dilutive funding.
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