** Brokerage H.C. Wainwright starts coverage on drug developer Alpha Cognition Inc ACOG.O with "buy" rating and $20 PT, a 251.5% upside to the stock's last close
** Says co's Alzheimer's disease drug Zunveyl, which is a "next-generation symptomatic therapy" has been shown to have a "very low rate of GI side effects (only 1-2%)" compared to 30-40% with existing cholinesterase inhibitors, and "eliminate sleep disturbances"
** Says co has a "finely tuned sales force" that is expected to cover 80% of the long-term care market in the US, with 88% of physicians indicating they would prescribe Zunveyl
** Co has a "considerable long-term promise" that is not reflected in its current stock price, which has been "range-bound" due to its relatively unknown status among US investors - brokerage
** Estimates Zunveyl to generate $540 mln in peak annual sales in the US by the late 2030s
** Stock fell ~53% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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