Axovant Sciences (AXON) Risk/Reward 'Massively Skewed to the Upside' - Baird

October 21, 2016 9:13 AM EDT
Get Alerts AXON Hot Sheet
Price: $12.53 +0.32%

Rating Summary:
    9 Buy, 0 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
Trade AXON Now!
Join SI Premium – FREE

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."

For an analyst ratings summary and ratings history on Axovant Sciences click here. For more ratings news on Axovant Sciences click here.

Shares of Axovant Sciences closed at $13.53 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, FDA, Hot Comments

Related Entities

Robert W Baird

Add Your Comment