11 Best Australian Stocks to Buy According to Analysts

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3. Alterity Therapeutics Limited (NASDAQ:ATHE)

Number of Hedge Fund Holders: 1

Analyst Upside Potential: 189.16%

Alterity Therapeutics Limited (NASDAQ:ATHE) is a clinical-stage biopharmaceutical company engaged in developing disease-modifying treatments for neurodegenerative diseases. Its lead candidate is ATH434, which is an oral small molecule designed to inhibit the aggregation of pathological proteins involved in neurodegeneration. ATH434 is being developed primarily to treat Parkinson’s disease and related Parkinsonian disorders.

On April 29, Alterity Therapeutics Limited (NASDAQ:ATHE) announced positive results from its ATH434-201 Phase 2 clinical trial. The placebo-controlled tests showed that ATH434 significantly slowed the clinical progression of Multiple System Atrophy. The 50 mg dosage showed a 48% reduction in disease progression at 52 weeks, and the 75 mg dose showed a 29% reduction at the same time point.

Moreover, on May 5, the company announced that it had been granted fast-track FDA approval for ATH434 to Treat Multiple System Atrophy. The fast track offers several benefits, including eligibility for accelerated approval and priority review if criteria are met, rolling review of the New Drug Application, and more frequent communication with the FDA. Alterity Therapeutics Limited (NASDAQ:ATHE) is one of the best Australian stocks to buy according to analysts.

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