Loading...
Loading...
In a report published Tuesday, J.P. Morgan analyst James D. Gordon downgraded the rating on
Prosensa Holding NVRNA from Overweight to Neutral, and lowered the price target from $35.00 to $6.50.
In the report, J.P. Morgan noted, “Following failure of the Drisapersen DEMAND-III study for DMD, our mid-2014 EmV is lowered to $6.50 ($35.00). With 6% downside potential, we downgrade to Neutral ([from] OW). Post PIII failure, we see a high chance current data is insufficient for approval. If Drisapersen isn't approvable on existing data,partner GSK may decline to fund further development, creating a funding challenge with Prosensa's finite cash-pile ($117m). DEMAND-III pres. Oct 5th could provide more colour on efficacy in sub-groups, but we see lingering uncertainty, pending an FDA verdict.”
Prosensa Holding NV closed on Monday at $6.91.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in