Leerink Partners Starts AC Immune SA (ACIU) at Outperform
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Leerink Partners initiates coverage on AC Immune SA (NASDAQ: ACIU) with a Outperform rating and a price target of $22.00.
Analyst Paul Matteis commented, "AC Immune is a biotechnology company that is focused on developing novel medicines for neurodegenerative disorders. ACIU's lead asset crenezumab – partnered with Roche (Genentech) – is a monoclonal antibody (mAb) that binds multiple sub-types of beta-amyloid. After phase II results that we believe show favorable efficacy trends in milder Alzheimer's Disease (AD) patients, crenezumab has been advanced into a pivotal phase III trial, which is notably exploring a 4-fold higher dose in an earlier, less progressed AD population. ACIU also has a robust drug discovery platform, with additional neurology assets in early development including: ACI-35 (anti-tau vaccine, collaboration with Janssen [JNJ, OP] – ph1b), anti-tau antibody (partnered with Roche – ph1), and ACI-24 (wholly owned abeta vaccine in ph1b/ph1 development for AD and Down syndrome)."
Shares of AC Immune SA closed at $14.43 yesterday.
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