Singular Research Starts FSD Pharma Inc (HUGE) at Buy-Venture, 'will be able to transition to commercial operations'

Singular Research analyst BJ Cook initiates coverage on FSD Pharma Inc (NASDAQ: HUGE) with a Buy-Venture rating and a price target of $6.00.

The analyst comments "FSD Pharma is a clinical-stage biotechnology company with a solid pipeline focused on addressing significant unmet needs in brain disorders and alcohol health. As such, HUGE holds promising growth prospects. Currently, treatments for progressive Multiple Sclerosis (MS) have limited efficacy, and FSD Pharma is targeting to change that via its first-in-class drug candidate LucidMS. This drug candidate has shown promising results in preclinical animal models and is undergoing first-in-human safety and tolerability studies, which is encouraging. FSD Pharma’s functional beverage drink, Unbuzzd™ is targeting to address the huge unmet need for accelerating alcohol metabolism to quickly restore mental alertness. The market opportunity is very large and HUGE stands to benefit significantly once the product reaches the commercial stage (expected by Q1:24). We are confident that HUGE will be able to transition to commercial operations given a seasoned top management team."

For an analyst ratings summary and ratings history on FSD Pharma Inc click here. For more ratings news on FSD Pharma Inc click here.

Shares of FSD Pharma Inc closed at $1.24 yesterday.

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