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Investing.com - H.C. Wainwright has maintained its Buy rating and $20.00 price target on Alpha Cognition Inc (NASDAQ:ACOG), representing an 87% upside from the current price of $10.69. The stock has shown strong momentum, gaining 16% in the past week and 88% over six months, according to InvestingPro data, following the company’s announcement of new preclinical data for its ALPHA-1062 drug.
The preclinical data supports the continued development of ALPHA-1062 (marketed as ZUNVEYL in delayed-release tablet form) for treating mild traumatic brain injury (mTBI), particularly those resulting from repetitive blast trauma commonly seen in military personnel.
The study, supported by the U.S. Department of Defense and conducted with the U.S. Department of Veterans Affairs and the Seattle Institute of Biomedical and Clinical Research, demonstrated that ALPHA-1062 administration following blast-induced mTBI reduced various indices of TBI-associated neuropathology.
Notably, the drug reduced brain levels of three toxic forms of Tau protein, which are associated with long-term neurological damage in mTBI patients who often face persistent physical and emotional challenges affecting quality of life.
H.C. Wainwright noted that its current $20 price target does not include any contribution from ALPHA-1062’s potential use in brain injury treatment, suggesting possible upside to long-term forecasts if clinical success continues in this indication. InvestingPro reveals 8 additional key insights about ACOG’s financial health and market position that could impact its investment potential.
In other recent news, Alpha Cognition Inc. announced that its drug candidate ALPHA-1062 has shown promising results in preclinical studies for treating mild traumatic brain injury (mTBI), particularly in military settings. The study, supported by the US Department of Defense and conducted with the US Department of Veterans Affairs and the Seattle Institute of Biomedical and Clinical Research, revealed that ALPHA-1062 reduced several markers of brain injury, including toxic forms of the Tau protein. This drug also decreased neuroinflammation markers and increased nerve growth factor receptor expression, which is important for neuronal survival. Additionally, Alpha Cognition has received FDA approval for ZUNVEYL, a delayed-release oral tablet formulation of ALPHA-1062, for the treatment of Alzheimer’s disease. In board-related developments, Alpha Cognition disclosed changes to its board of directors. John Havens has decided not to seek re-election, and Robert Wills, Ph.D., has been appointed to the board and its Governance and Nominating Committee. Dr. Wills will receive an annual base salary and stock options as part of his compensation. These recent developments highlight Alpha Cognition’s ongoing progress in both its research and corporate governance.
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