Market Overview

Rigorous Trial Design, Nice Risk/Reward Keep Analyst Anxious For Avoxant's Phase 3 MINDSET Data

Share:
Rigorous Trial Design, Nice Risk/Reward Keep Analyst Anxious For Avoxant's Phase 3 MINDSET Data

Axovant Sciences Ltd (NYSE: AXON) reported its fiscal fourth-quarter results on Tuesday, which helped push shares higher by more than 3.5 percent on Wednesday.

Investors could potentially be rewarded with another upcoming catalyst in September with topline Phase 3 MINDSET results, analysts at HC Wainwright noted.

HC Wainwright's Andrew Fein maintained a Buy rating on Axovant's stock and $35 price target based on the company's upcoming results of intepirdine in mild-to-moderate Alzherimer's.

Related Link: Analyst: Neurotrope's Bryostatin-1 Trial Data Justifies Additional Studies

The analyst noted several developments that could "sweeten the deal on the upside" that could improve investor sentiment.

"The clinical pipeline matures with multiple readouts this year even sans MINDSET: HEADWAY-DLB study of intepirdine in 4Q (enrollment completed), phase 2 study of intepirdine on gait and balance, two phase 2 studies of nelotanserin, regulatory discussions for RVT-103, and plans for POC for RVT-104."

The appointment of "biotech superstar" David Hung as CEO serves as not only an "external validation" of the company's prospects but now gives the company ability to better execute on its pipeline.

Axovant remains well-financed with $213 million in cash on the balance sheet which could support its pipeline development in the medium term.

Latest Ratings for AXON

DateFirmActionFromTo
Dec 2018UpgradesHoldBuy
Jan 2018DowngradesOutperformMarket Perform
Jan 2018UpgradesSellNeutral

View More Analyst Ratings for AXON
View the Latest Analyst Ratings

Posted-In: Alzheimers Andrew Fein HC Wainwright MINDSET Phase 3Analyst Color Analyst Ratings Best of Benzinga

 

Related Articles (AXON)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
SBHMaintains14.0
TPXReinstates90.0
DISCAMaintains30.0
ANABMaintains93.0
SHOPDowngrades300.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Buffalo Wild Wings (BWLD) Goes Fast Food, Will It Help?

Is Nvidia Really A Casino Stock?