Alpha Cognition initiated with an Outperform at Raymond James

Raymond James analyst Ryan Deschner initiated coverage of Alpha Cognition with an Outperform rating and $20 price target. Alpha Cognition markets Zunveyl, a prodrug of FDA-approved galantamine, which is indicated for the treatment of mild-to-moderate dementia in patients with Alzheimer's disease, the analyst noted. Zunveyl is designed to solve a large unmet need in AD, namely the gastrointestinal tolerability and other adverse events that are a primary source of discontinuation for the most commonly prescribed class of AD drugs, acetylcholinesterase inhibitors, the analyst added.