Neuren Pharmaceuticals upgraded to Buy from Hold at Jefferies

Jefferies analyst David Stanton upgraded Neuren Pharmaceuticals to Buy from Hold with a price target of A$16.75, up from A$11.20. Acadia acquired ex-North American rights to trofinetide and global rights to Neuren’s NNZ-2591 in Rett syndrome and Fragile X syndrome, while also giving guidance for Daybue U.S. net sales ahead of the firm’s forecasts, says the analyst, who updated estimates for the new agreements and says the deal “signals a strong vote of confidence from Acadia for the potential of trofinetide and NNZ-2591.”