Jaguar Health Inc (NASDAQ: JAGX) is screaming for the top in the market this morning. However, if you’re looking for press releases or SEC filings, you’ll be hard pressed to find anything. Nonetheless, there’s good reason for all of the excitement surrounding the stock, with two big stories hitting the tape.
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JAGX Stock Benefits From Rodmans & Renshaw Initiation
Yesterday, analysts at Rodman & Renshaw initiated coverage on Jaguar Health stock. The analyst firm rated the stock a Buy with a price target of $2. That’s a massive price target considering the fact that the stock is trading around $0.68 per share, even after dramatic gains today and yesterday.
A $2 price target implies the potential for gains in multiples.
With such a strong initiation from one of the most trusted analysts on Wall Street, it only makes sense that the news led to excitement among investors, sending JAGX for the top.
The Bigger Story
There’s a bigger story brewing surrounding Jaguar Health, and it all surrounds a potential treatment option known as Crofelemer. The treatment is being developed with the company’s subsidiary, Napo, as a potential option for prophylaxis and/or symptomatic relief of inflammatory diarrhea in a long-hauler COVID-19 recovery patients.
JAGX and Napo will work together to study the drug in Europe at first. Moreover, funding is nearly tied down.
In fact, the company is in prelminary discussions with Swiss Growth Forum for its potential merger with the company’s operational subsidiary to be established in Europe with an exclusive license to crofelemer and Mytesi for indications of inflammatory diarrhea and HIV-related diarrhea. Swiss Growth Forum is a sponsor of a European SPAC with quite a bit of resources to invest.
Should all go well, Swiss Growth Forum will pay Napo, the subsidiary of JAGX, between $2 million and $10 million upfront. Moreover, it will fund $20 million of European clinical development of crofelemer. At the end of it all, Napo and JAGX will own between 30% and 49.9% of the post-acquisition company.
In a statement, Lisa Conte, President and CEO at JAGX, said:
With infection rates growing the way they are, we believe it’s possible that 10% to 15% of the global population is at risk of experiencing long-hauler syndrome.
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The Bottom Line
Analysts and investors are jumping on Jaguar Health, and for good reason. It’s Crofelemer candidate is showing incredible promise. As it continues to do so, and with the European acquisition of rights likely coming down the line, things are going great for the company, making JAGX a stock that’s well worth watching.
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