Brain diseases such as multiple sclerosis, brain cancer, Alzheimer’s, and schizophrenia cause immense suffering and financial costs, creating a large market for neuroscience stocks. Insurers are willing to pay significant amounts for drugs that can alleviate symptoms of these diseases. Three neuroscience stocks are making impressive progress in combating these devastating brain diseases.
Alector (NASDAQ:ALEC) is developing Alzheimer’s treatments that aim to mobilize the immune system of Alzheimer’s disease victims to combat the disorder. The biotech firm AbbVie (NYSE:ABBV) is partnering with ALEC on the development of the treatments, indicating their belief in the potential success of the drug AL002. Investment bank Stifel upgraded ALEC stock to “Buy” and raised its price target on the shares to $15 from $8, citing “above average” chances of positive Phase 2 data for AL002.
Reviva Therapeutics (NASDAQ:RVPH) announced positive Phase 3 data for its schizophrenia treatment, brilaroxazine, in October. Both the 15-milligram and the 50-milligram doses produced superior results in patients compared to a placebo, with the higher dose showing statistically significant improvement. The data suggests that the 50-milligram dose could be approved by the Food and Drug Administration. Notably, there were no major side effects among patients taking either dose of the drug.
Eisai (OTC:ESAIY), a Japanese biotech company, partnered with Biogen (NASDAQ:BIIB) to develop the first Alzheimer’s treatment, Leqembi, which significantly slowed the progression of the disease. According to recent data, “76% of patients who received the under-the-skin injection (of Leqembi) showed no cognitive decline over 18 months, and 60% showed improvement at 18 months.” Eisai announced in November that it hopes to raise the number of patients taking the drug to 10,000 “by the end of March,” up from the roughly 800 that were taking it in October. This eagerness to treat more patients with Leqembi indicates the drug’s effectiveness, making Eisai one of the best neuroscience stocks to buy.
Let us know what you think, please share your thoughts in the comments below.
