Oppenheimer Downgrades Alcobra Ltd. (ADHD) to Perform

September 29, 2016 9:46 AM EDT
Get Alerts ADHD Hot Sheet
Price: $2.27 -1.73%

Rating Summary:
    2 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 1 | New: 2
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Oppenheimer downgraded Alcobra Ltd. (NASDAQ: ADHD) from Outperform to Perform after the FDA has informed ADHD that a full clinical hold has been placed on MDX.

Analyst Jay Olson commented, "The decision was based on pre-clinical findings and there was no human data referenced in the FDA communication according to ADHD management. ADHD will provide more details on FDA's decision once a written notification is received next week. Prior to the clinical hold, the phase 3 MEASURE study of MDX in adult ADHD was expected to reach full enrollment in 4Q16. We view this setback as a delay to commercialization of MDX with increased uncertainty around future cash requirements and we therefore downgrade ADHD to Perform and withdraw our price target."

For an analyst ratings summary and ratings history on Alcobra Ltd. click here. For more ratings news on Alcobra Ltd. click here.

Shares of Alcobra Ltd. closed at $4.62 yesterday.

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