UPDATE: Stifel Initiates Coverage on Alcobra as Company Regains Focus in Market

In a report published Wednesday, Stifel analyst Annabel Samimy initiated coverage on

with a Buy rating and $27.00 price target. In the report, Stifel noted, “We are initiating coverage of Alcobra Ltd. with a Buy rating and $27 target price. Alcobra is developing novel and differentiated therapies for cognitive symptoms in various CNS disorders, initially targeting attention deficit hyperactivity disorder (ADHD). The company is approaching Phase III clinical trials with lead compound (MG01CI), which if successful, could be a best-in-class non-stimulant with psychostimulants competitive efficacy, superior side effect profile and specific utility in predominantly inattentive ADHD patients. Additionally, MG01CI could treat cognitive symptoms for multiple other CNS conditions and Alcobra is initiating a program to treat cognitive symptoms in Fragile X syndrome (viewed as a call option). We believe Alcobra is on the verge of bringing truly effective products to a large market, side-stepping many shortcomings of current therapies.” Alcobra closed on Tuesday at $17.06.