Axovant Sciences (AXON) Risk/Reward 'Massively Skewed to the Upside' - Baird
- Wall Street flat as countdown to Trump's swearing-in begins
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
- CP's (CP) Outgoing CEO Hunter Harrison, Activist Paul Hilal Said Set to Target CSX Corp. (CSX)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Baird analyst Brian Skorney reiterated an Outperform rating and $29 price target on Axovant Sciences (NYSE: AXON) saying they are confident in upside following management meetings.
Skorney commented, "After traveling with management last week, we continue to believe the stock has a risk/reward that is massively skewed to the upside. Major data readouts between now and the end of next year remain on track and while intepirdine remains the primary focus, nelotanserin could be a sleeper that starts working its way into the valuation in the next few months."
He added, "Most of our meetings focused on the multiple data readouts for intepirdine next year, most notably the results of the Phase 3 MINDSET study in Alzheimer's. Management seemed confident in the timing for a NDA submission by the end of next year as well as Phase 2 HEADWAY-DLB readout, which could be fileable in Dementia with Lewy Bodies. We had been skeptical about the ability to enroll such sizeable studies in the promised timeframe but it sounds like timing is on track, increasing our confidence in this team's execution capability."
Shares of Axovant Sciences closed at $13.53 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CSX (CSX) PT Raised to $51 at Citi as Hunter Harrison Makes Moves
- Netflix (NFLX) PT Raised to $150.00 at BMO Capital; Keeps 'Market Perform'
- Tutor Perini Corporation (TPC) PT Raised to $35.00 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments, FDA, Hot Comments
Related EntitiesRobert W Baird
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!