NMTR - Truist sees 231% upside on 9 Meters on broader application of COVID drug

Larazotide, a drug in development from 9 Meters Biopharma (NMTR) to treat both celiac disease in adults and a rare complication from COVID-19 in children, may have broader applications, according to Truist.Yesterday, 9 Meters highlighted a case report of an infant with a rare and serious complication from COVID-19, multisystem inflammatory syndrome in children ("MIS-C"), who was successfully treated with larazotide.Analyst Srikripa Devarakonda is maintaining a buy rating on shares are a $4 price target (~231% upside).Based on a discussion with company management, Devarakonda said the data from the case study indicates that there is a potential connection between gut viral antigens and the inflammatory response seen in COVID-19.However, there is no evidence yet that the gut viral antigen - inflammatory response connection is seen in adults with COVID-19 or other viral infections.According to CDC data, there are ~3500-4000 patients in the US that meet a strict definition of MIS-C.9 Meters shares

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Truist sees 231% upside on 9 Meters on broader application of COVID drug