Adamas Pharma (ADMS): Reiterating Buy Ahead Of World Parkinson Congress - Mizuho
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Mizuho Securities analyst, Irina Koffler, reiterated her Buy rating on shares of Adamas Pharmaceuticals (NASDAQ: ADMS) ahead of the company's presentation at the World Parkinson Congress this week. The company will be presenting:
1) The full results of its Phase III EASE-LID 3 study that demonstrated a 1.9 hour improvement in ON time without troublesome dyskinesia, and a 1.1 hour decrease in OFF time, collectively providing the patient with 3 hours of symptom relief per day
2) A post-hoc analysis of the Phase III EASE-LID trial that demonstrated directionally positive improvements in all 10 activities of daily living (ADL).
At the end of 12 weeks, patients that received ADS-5102 demonstrated the most positive directional improvements in scores for public and social settings, walking and balance, exciting or emotional settings, and eating tasks. Approximately 46-72% of patients reported impairment on these activities at baseline.
The analyst is encouraged by the improvement in the walking and balance score which may be a positive read-through for the company's second ADS-5102 program in MS Gait. No change to the price target of $26.
Shares of Adamas Pharmaceuticals closed at $17.81 yesterday.
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