Neuren Pharma shares jump to a three-month high as it NNZ-2591...

Neuren Pharma shares jump to a three-month high as it NNZ-2591 drug shows promise its second Phase 2 trial to treat Pitt Hopkins Syndrome.Wilsons Advisory reiterates its Overweight rating while lifting its price target by over 10pc to $30 as Neuren shares soar to $23.07 after its investor presentation.

"This data provides a second independent validation of NNZ-2591 as a potential treatment for cognitive impacts in orphan neurodevelopmental disorders," says Wilsons analyst Melissa Benson."As we have consistently noted, we assess the opportunity for NNZ-2591 to be at least five-fold that of DAYBUE owing to its superior tolerability and apparent efficacy profile with a strong intellectual property moat."The consistency of this data gives us conviction in the upcoming 3Q and CY25 readouts of NNZ-2591 in Angelman and Prader Willi syndromes, respectively, leading us to de-risk the Phase II programs. "Dr Benson says this should elevate investor’s confidence in the reality of NNZ-2591 as a future blockbuster and appetite to reflect that in valuations.