Jefferies Starts AC Immune SA (ACIU) at Buy
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Jefferies initiates coverage on AC Immune SA (NASDAQ: ACIU) with a Buy rating and a price target of $25.00.
Analyst Peter Welford commented, "ACIU may have the broadest Alzheimer's pipeline in biotech, with active & passive therapies targeting both amyloid beta and tau. Crenezumab underpins our NPVs, partnered with Genentech in Phase III with data 2020E. Sentiment towards ACIU may shift on LLY's competing anti-Abeta solanezumab news around YE. ACIU has three other Phase Ib-IIa products for a pipeline providing a multitude of catalysts by 2018E. We are initiating with a Buy rating and $25/share PT."
Shares of AC Immune SA closed at $14.43 yesterday.
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