Needham & Company Maintains a 'Hold' on Targacept (TRGT); Sidelined Until TC5214 Phase 3 Story in Depression is Fully Resolved
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Price: $0.96 --0%
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Targacept (NASDAQ: TRGT).
Needham analyst says, "Targacept and collaborator AstraZeneca (NYSE: AZN)(NR) are expected to announce results from remaining Phase 3 trials of TC-5214 in depression in 1H12. The first and second flexible-dose trials did not meet primary endpoints, a surprise given the totality of preclinical and clinical data collected to date with mecamylamine and TC-5214. We are cautious, but acknowledge there remains the possibility for a positive regulatory and commercial outcome if the two fixed dose Phase 3 trials generate positive results."
"Targacept has brought several other compounds into Phase 2 development in CNS and inflammatory conditions. We do not believe outcome of the TC5214 program in depression has any bearing on outcome of these programs. Nevertheless, we maintain our rating until the TC5214 Phase 3 story in depression is fully resolved."
For an analyst ratings summary and ratings history on Targacept click here. For more ratings news on Targacept click here.
Shares of Targacept closed at $5.67 yesterday.
Needham analyst says, "Targacept and collaborator AstraZeneca (NYSE: AZN)(NR) are expected to announce results from remaining Phase 3 trials of TC-5214 in depression in 1H12. The first and second flexible-dose trials did not meet primary endpoints, a surprise given the totality of preclinical and clinical data collected to date with mecamylamine and TC-5214. We are cautious, but acknowledge there remains the possibility for a positive regulatory and commercial outcome if the two fixed dose Phase 3 trials generate positive results."
"Targacept has brought several other compounds into Phase 2 development in CNS and inflammatory conditions. We do not believe outcome of the TC5214 program in depression has any bearing on outcome of these programs. Nevertheless, we maintain our rating until the TC5214 Phase 3 story in depression is fully resolved."
For an analyst ratings summary and ratings history on Targacept click here. For more ratings news on Targacept click here.
Shares of Targacept closed at $5.67 yesterday.
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