Oppenheimer Downgrades Alcobra Ltd. (ADHD) to Perform
- Wall Street ends down as Trump focuses on trade
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- Qualcomm (QCOM) Thrashed as Apple (AAPL) Lawsuit Threatens Licensing Business Model
- McDonald's (MCD) Tops Q4 EPS by 3c
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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."
Shares of Alcobra Ltd. closed at $4.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
- UPDATE: Seaport Global Securities Upgrades Rockwell Collins (COL) to Buy
- Xilinx (XLNX) PT Raised to $55 at Deutsche Bank Ahead of 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
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!