H.C. Wainwright Reiterates Buy Rating on Aligos Therapeutics Inc. (ALGS)

H.C. Wainwright analyst Ed Arce reiterated a Buy rating and $75.00 price target on Aligos Therapeutics Inc. (NASDAQ: ALGS).

The analyst commented: "We are surprised by the market reaction, given what we view as an overall positive dataset. Yesterday, Aligos announced that three of four ALG-055009 dose groups met the primary endpoint of the Phase 2a HERALD study in MASH, with statistically significant liver fat reductions vs. placebo as measured by MRI-PDFF at Week 12. Specifically, top-line results from the randomized, double-blind, placebo-controlled HERALD study (NCT06342947) showed that ALG-055009, Aligos' thyroid hormone receptor beta (THR-β) agonist, resulted in statistically significant liver fat reductions at Week 12 with doses between 0.5 mg and 0.9 mg, with placebo-adjusted median relative liver fat reductions of up to 46.2% as measured by MRI-PDFF. Based on our conversation with management, we believe that additional data from HERALD could potentially be presented at AASLD The Liver Meeting held November 15 – 19, 2024, which we'd consider as the next milestone for ALG-055009. Affirm Buy and $75 price target."

For an analyst ratings summary and ratings history on Aligos Therapeutics Inc. click here. For more ratings news on Aligos Therapeutics Inc. click here.

Shares of Aligos Therapeutics Inc. closed at $10.18 yesterday.

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