JonesTrading analyst Soumit Roy raised the firm’s price target on Anavex (AVXL) to $80 from $40 and keeps a Buy rating on the shares after the company announced the Phase 2b/3 trial of oral ANAVEX2-73, or blarcamesine, for the treatment of mild cognitive impairment due to Alzheimer’s disease, AD, and mild AD met the primary endpoints. In Roy’s view, there is "a clear win shown by ADAS-Cog" and "markedly better safety" with Anavex’s oral drug than seen with Eisai (ESALY) and Biogen’s (BIIB) antibody.
Published first on TheFly
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