Incannex Gains Buy Rating and $18 Price Target from AGP
IXHL•Incannex Healthcare received a BUY rating with an $18.00 price target from Alliance Global Partners in a June 8 coverage report, marking the first independent research on its equity. The report highlights the company’s obstructive sleep apnoea candidate IHL-42X and synthetic psilocybin therapy PSX-001 programs.
1. Research Coverage Initiation
Incannex Healthcare announced on June 9 that Alliance Global Partners initiated equity research coverage with a BUY rating and set a price target of $18.00 per share, marking the first independent analyst assessment of the company’s clinical-stage biopharmaceutical pipeline.
2. Clinical Pipeline Highlights
The AGP report details Incannex’s lead obstructive sleep apnoea therapy IHL-42X in its DReAMzz dose optimisation study and its PSX-001 synthetic psilocybin program targeting generalized anxiety disorder, emphasizing market opportunities and growth prospects.
