Skip to main content

Market Overview

Expect More Downside In Axovant Sciences

Expect More Downside In Axovant Sciences

Shares of Axovant Sciences Ltd (NASDAQ: AXON) plummeted more than 70 percent after the company's late-stage trial involving its therapy for the treatment of Alzheimer's failed to meet its primary objectives in a phase 3 study called MINDSET.

Investors thinking Axovant's stock can't see any additional downside after a 70-percent drop should consider what analysts at Chardan Capital Markets have to say. The firm's Gbola Amusa maintains a Sell rating on Axovant's stock with an unchanged $3 price target.

Axovant said it will no longer develop its intepirdine therapy after the disappointing phase 3 trial results, the analyst commented in a research report. Looking forward there are multiple events ahead including top-line results from the 269-patient HEADWAY Dlb trial of intepirdine in dementia and other studies that are "unlikely to support" the stock's price performance at current levels


"We believe that for HEADWAY DLB to in fact be a registration study, HEADWAY DLB needs to show an intepirdine efficacy signal so strong that the probability of such a signal is extremely remote," Amusa wrote.

The analyst also highlighted a few other concerns, including:

  • "HEADWAY DLB has far less power than MINDSET, yet is still testing intepirdine for cognition and function in dementia patients."
  • "To us, MINDSET, along with late-stage trials for idalopirdine and PF-05212377, were a test (and a failure) of the acetylcholine hypothesis on 5HT6 antagonist use in dementias to improve cognition and/or function."
  • "We note a lack of convincing support that 5HT2A antagonism, on top of 5HT6 antagonism, by intepirdine should affect outcomes in DLB."

At time of publication, shares of Axovant Sciences were up roughly 3 percent at $7.96.

Related Links:

Analyst Says Axovant's Bull Case Is Effectively Over

Axovant Fails To Pull The Sword From The Stone; Alzheimer's Drug Fails

Latest Ratings for AXON

Feb 2021JP MorganDowngradesOverweightNeutral
Feb 2021Morgan StanleyInitiates Coverage OnOverweight
Dec 2018JefferiesUpgradesHoldBuy

View More Analyst Ratings for AXON
View the Latest Analyst Ratings


Related Articles (AXON)

View Comments and Join the Discussion!

Posted-In: Analyst Color Biotech Short Ideas Reiteration Analyst Ratings Movers Trading Ideas General Best of Benzinga

Latest Ratings

PHXSeaport GlobalInitiates Coverage On
AFCGLake StreetInitiates Coverage On29.0
OSSNoble Capital MarketsUpgrades7.0
NCNOGabelli & Co.Upgrades
HAECJS SecuritiesUpgrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
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