Truist Bullish On This Clinical-Stage Biopharmaceutical Company With 374% Upside - Cyclerion Therapeutics (NASDAQ:CYCN)

Truist analyst Joon Lee has initiated coverage of Cyclerion Therapeutics Inc CYCN with a Buy rating and price target of $14, suggesting a massive 374% upside.
The development of drugs targeting the brain's nitric oxide (NO) system is "ripe for therapeutic intervention," the analyst tells investors.
Lee contends that Cyclerion's lead drug, CY6463, can successfully enhance the NO signaling in the brain.
Lee adds that CY6463 is currently in three signal finding clinical studies - MELAS, Alzheimer's disease with vascular dementia, and cognitive impairment associated with schizophrenia - with data from these trials expected throughout 2022.
Last month, Cyclerion announced a publication showing that the administration of a small molecule soluble guanylate cyclase (sGC) stimulator reduced markers associated with neuroinflammation in preclinical models.
These data suggest that CNS penetrant sGC stimulators, such as CY6463 and CY3018, could provide therapeutic benefits.
Price Action: CYCN shares closed higher by 10.90% at $2.95 on Wednesday.