Janney Montgomery Scott launched coverage of Neurotrope (NASDAQ:NTRP) with a “buy” rating and fair value estimate of $14. The stock closed at $6.36 on June 17.
Neurotrope’s bryostatin-1, currently the only candidate in clinical development for patients with moderate-to-severe Alzheimer’s disease, regulates multiple pathways that are known to be involved in AD pathophysiology.
Analyst Yun Zhong writes that data from two Phase 2 studies and an expanded access program suggest encouraging efficacy, including statistically significant improvement in cognition in a subgroup of patients who are not taking concomitant memantine treatment.
A confirmatory Phase 2 study has completed patient enrollment and the top-line data to be reported in the second half of 2019, “if positive, should lead to strong stock movement,” he added.
