Aimmune Therapeutics (AIMT): Early Enrollment Completion Is A "Big Positive" - Piper Jaffray
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Piper Jaffray analyst, Charles Duncan, reiterated his Overweight rating on shares of Aimmune Therapeutics (NASDAQ: AIMT) after the company announced it has exceeded the North American enrollment of 350 patients in its Phase III PALISADE trial of AR101. This progress is a "big positive" driven by investigator and patient interest in the OIT mechanism, which is well-validated by Phase II efficacy & safety results, as well as non-sponsored trials. The analyst believes this projected timeline beat speaks to the unmet need in peanut allergy across the differentiated, broad patient population (range of ages and severities).
PALISADE, EU enrollment completion remains on track for 4Q16, setting up for top-line results in 4Q17. Additionally, in 1Q17, Aimmune will begin the 400-patient, placebo-controlled "real world" RAMSES trial, which will expand the growing body of efficacy, safety, and biomarker data on AR101.
No change to the price target of $38.00.
Shares of Aimmune Therapeutics closed at $15.81 yesterday.
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