Mizuho initiates coverage on Vigil with 'buy' on lead therapy potential

Vigil Neuroscience

31/03/2023 15:43

** Mizuho Securities initiates coverage on Vigil
Neuroscience  VIGL.O  with "buy" rating; sets PT of $15  
    ** Brokerage sees significant upside to co's lead product
candidate, VGL101, being tested to treat a type of neurological
disease which affects the brain - VIGL 
    ** VGL101 is being tested to treat adult-onset
leukoencephalopathy with axonal spheroids and pigmented glia
(ALSP) - co   
    ** VIGL is "uniquely and ideally positioned" in the ALSP
treatment market as it is the only company developing a
therapeutic of any kind for ALSP - Mizuho 
    ** Brokerage sees risk unadj. peak U.S., EU and Japan sales
of $2.9 bln for VGL101
    ** ALSP is a neurological condition caused by changes to
certain areas of the brain which usually begin in a person's
forties and worsen over time 
    ** 6 of 7 brokerages rate the stock "buy" or higher, and 1
rate "hold"; their median PT is $20
    ** Stock lost ~21.3% since IPO in Jan 2022
    

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))