Axovant Sciences (AXON): Competitive Impact Should Be Minimal - Jefferies
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Jefferies analyst, Biren Amin, reiterated his Buy rating on shares of Axovant Sciences (NYSE: AXON) after Lundbeck announced that the PIII trial testing idalopirdine failed to meet its primary endpoint of reduction in ADAS-COG at week 24 when combined with donepezil. The analyst believes there are multiple key differences to AXON's intepirdine program and therefore does not expect it to be predictive of the MINDSET Phase III trial outcome. The analyst continues to be positive on AXON’s intepirdine in Alzheimer's.
No change to the price target of $31.
Shares of Axovant Sciences closed at $15.14 yesterday.
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