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AXON

Axovant Sciences

$13.66

0.21 (1.56%)

, LLY

Eli Lilly

$67.86

-8.13 (-10.70%)

14:15
11/23/16
11/23
14:15
11/23/16
14:15

Axovant not impacted by Lilly's solanezumab failure, says JMP Securities

JMP Securities analyst Jason Butler said Axovant Sciences (AXON) is not impacted by Eli Lilly's (LLY) solanezumab. The analyst said solanezumab has a very different mechanism of action, and unlike solanezumab, Axovant's has already prospectively demonstrated statistically significant improvements in cognition and function in a pivotal trial. Butler recommends buying Axovant on weakness and reiterates his Outperform rating and $36 price target.

AXON

Axovant Sciences

$13.66

0.21 (1.56%)

LLY

Eli Lilly

$67.86

-8.13 (-10.70%)

  • 29

    Nov

  • 04

    Dec

AXON Axovant Sciences
$13.66

0.21 (1.56%)

09/22/16
CHDN
09/22/16
NO CHANGE
Target $8
CHDN
Sell
Recent failures of 5-HT6 competitors reinforce Axovant risks, says Chardan
After Lundbeck reported that its 5-HT6 antagonist, idalopirdine, did not meet the primary endpoint in the first of three phase III studies in mild-to-moderate Alzheimer's disease patients, Chardan analyst Gbola Amusa noted that this is the second recent failure of a mid-to-late-stage 5-HT6 antagonist coming on the heels of Pfizer's (PFE) prior miss. Amusa anticipates that some in the market will see limited read-across from Lundbeck to Axovant (AXON), but he thinks Pfizer's and Lundbeck's setbacks reinforce the risks for the 5-HT6 antagonist class in Alzheimer's. The analyst reiterates his Sell rating and $8 price target on Axovant shares.
09/22/16
HCWC
09/22/16
NO CHANGE
Target $35
HCWC
Buy
No read-through from idalopirdine to Axovant RVT-101, says H.C. Wainwright
H.C. Wainwright analyst Andrew Fein notes that Lundbeck announced that its idalopirdine missed its primary and secondary endpoints in the STARSHINE Phase 3 study in mild/moderate Alzheimer's disease. However, Fein says that idalopirdine miss does not shake his confidence in Axovant's RVT-101 as he believes Lundbeck may have simply not been able to dose idalopirdine high enough in the Phase 3 program, which minimizes read-through to Axovant's MINDSET Phase 3 study. He continues to believe that Axovant's own experimental Alzheimer's therapy is well positioned for a win. Fein reiterates a Buy rating and $35 price target on Axovant's shares. In afternoon trading, Axovant's stock has dropped almost 12% to $15.31 per share.
09/23/16
PIPR
09/23/16
NO CHANGE
Target $32
PIPR
Overweight
Axovant Sciences selloff provides entry point, says Piper Jaffray
Piper Jaffray analyst Charles Duncan believes yesterday's selloff in shares of Axovant Sciences provides an entry point into the name. Lundbeck's announcement that its first Phase III data with idalopirdine in Alzheimer's missed the primary endpoint does not have predictive value for the Axovant's ongoing RVT-101 Phase III study, Duncan tells investors in a research note. The analyst sees "several key differences" between the two candidates and Phase III programs. He believes RVT-101 is the best-in-class 5-HT6 candidate and thinks its MINDSET trial is well designed to show clinical benefit. Duncan reiterates an Overweight rating on Axovant with a $32 price target.
11/23/16
BARD
11/23/16
NO CHANGE
BARD
Axovant Sciences outlook unchanged on Lilly's solanezumab failure, says Baird
LLY Eli Lilly
$67.86

-8.13 (-10.70%)

11/23/16
JEFF
11/23/16
NO CHANGE
Target $310
JEFF
Buy
Biogen selloff may be an overreaction, says Jefferies
Jefferies analyst Brian Abrahams believes selloff in shares of Biogen (BIIB) following Eli Lilly's (LLY) Alzheimer's failure may be an overreaction. Signals of activity seen for Lilly's sola "do maintain some possibility" that Biogen's aducanumab could "ultimately make it over the line," Abrahams tells investors in a research note. He keeps a Hold rating on Biogen with a $310 price target, however, viewing the risk/reward as balanced.
11/23/16
MSCO
11/23/16
NO CHANGE
Target $73
MSCO
Equal Weight
Eli Lilly price target lowered to $73 from $88 at Morgan Stanley
Morgan Stanley analyst David Risinger lowered his price target for Eli Lilly to $73 after removing Alzheimer's candidate solanezumab from his model. Following this morning's Phase 3 failure, the analyst keeps an Equal Weight rating on the shares. The next catalyst for Eli Lilly is the FDA's action on Jardiance's label by December 4, Risinger tells investors in a research note. He expects Jardiance to get a CV death reduction indication. The analyst notes that his and consensus 2020 estimates have "significant downside" should the indication not be granted. Lilly is down 11%, or $8.28, to $67.71 in afternoon trading.
11/23/16
COWN
11/23/16
NO CHANGE
Target $85
COWN
Outperform
Eli Lilly price target lowered to $85 from $100 at Cowen
Cowen analyst Steve Scala eliminated solanezumab from his Eli Lilly model which lowered 2018 earnings forecasts to $4.15 from $4.35 and 2019 to $4.75 from $5.30 and a reduction in his price target to $85 from $100. Despite the solanezumab setback, Scala said Outperform rated Eli Lilly has a number of promising new drugs and late-stage agents poised to launch over the next several years that given him confidence in sales and earnings growth prospects.
11/23/16
BMOC
11/23/16
DOWNGRADE
BMOC
Market Perform
Eli Lilly downgraded to Market Perform from Outperform at BMO Capital

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