Cantor Fitzgerald analyst Charles Duncan downgraded Anavex to Neutral from Overweight with a price target of $11, down from $16, after the company hosted a conference call to discuss the top-line results of its P2b/3 study of ANAVEX2-73 or blarcamesine, that were presented on December 1 at the Clinical Trials on Alzheimer’s Disease Congress. There are several key factors that suggest the data are "provocative, but not yet compelling," including the choice of statistical analyses and other trial design/conduct "complexifiers," Duncan tells investors. There are also safety signals that may have broader platform implications, said Duncan, who has decided to step to the "sidelines" until he gets clarity with study data details.
Published first on TheFly
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