Anavex price target raised to $54 from $50 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju raised the firm’s price target on Anavex to $54 from $50 and keeps a Buy rating on the shares after the company reported preliminary 48-week open-label extension Parkinson’s disease dementia Phase 2 study data. The data demonstrated longitudinal beneficial effects of blarcamesine on the pre-specified primary and secondary objectives, as well as planned primary and key secondary endpoints, the analyst tells investors in a research note. While encouraged by the data, the firm notes the reduced enrollment rate into the open-label extension due to the pandemic.