Loading...
Loading...
In a report published Wednesday, JMP Securities analyst Jason N. Butler initiated coverage of
Axovant Sciences Ltd with a Market Outperform rating and a price target of $36.
Axovant is a biopharmaceutical company focused on the development and commercialization of novel treatments for dementia, including Alzheimer's disease (AD). The company is conducting a confirmatory Phase 3 trial for RVT-101, its lead candidate, as an adjunct therapy to donepezil in patients with mild-to moderate AD.
"We believe the probability of success for this Phase 3 trial is high, based on a clear mechanistic rationale for synergistic benefits with donepezil, and positive results from a large randomized, controlled, Phase 2b trial in the same patient population," analyst Jason N. Butler wrote.
In the report JMP Securities noted, "RVT-101 is being developed as an add-on therapy to donepezil and there is both mechanistic and clinical evidence to support clinically important benefits of combining these drug modalities. We also see commercial advantages to an add-on therapy, with targeted patients already receiving treatment for their disease, which we believe will speed RVT-101's adoption."
Positive trial results could lead to a possible FDA approval and launch by 2019.
Axovant's shares are up nearly 15 percent since the company's IPO in June 2015. "We anticipate that the stock can continue to appreciate in coming months as the company executes on its Phase 3 trial for RVT-101 in AD and advances clinical development of the candidate in additional dementia indications," the report added.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies 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