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AXON

Axovant Sciences

$14.12

0.67 (4.98%)

, LLY

Eli Lilly

$68.00

-7.99 (-10.51%)

09:06
11/25/16
11/25
09:06
11/25/16
09:06

Lilly trial failure has little to do with Axovant Sciences, says Baird

Baird analyst Brian Skorney said Eli Lilly's (LLY) solanezumab drug trial failure has little to do with Axovant Sciences (AXON) drug trial for Alzheimer's. The analyst said Lilly's failure is a reminder of the difficulty of the disease, but the two company's drugs are very different and meant to have very different effects. Skorney reiterated his Outperform rating and $29 price target on Axovant shares.

AXON

Axovant Sciences

$14.12

0.67 (4.98%)

LLY

Eli Lilly

$68.00

-7.99 (-10.51%)

  • 29

    Nov

  • 04

    Dec

AXON Axovant Sciences
$14.12

0.67 (4.98%)

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
11/23/16
JMPS
11/23/16
NO CHANGE
JMPS
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.
LLY Eli Lilly
$68.00

-7.99 (-10.51%)

11/23/16
BMOC
11/23/16
DOWNGRADE
BMOC
Market Perform
Eli Lilly downgraded to Market Perform from Outperform at BMO Capital
11/25/16
RHCO
11/25/16
NO CHANGE
Target $101
RHCO
Buy
Eli Lilly price target lowered to $101 from $107 at SunTrust
SunTrust analyst John Boris removed solanezumab, which he had viewed as a "high risk/high reward" asset, from his model after the company reported a Phase 3 study showed that the drug failed to slow loss of cognitive ability in patients with mild Alzheimer's disease. Boris cut his price target on Lilly shares to $101 from $107, but recommends taking advantage of weakness in the shares, on which he keeps a Buy rating.
11/25/16
UBSW
11/25/16
NO CHANGE
Target $70
UBSW
Neutral
Eli Lilly price target lowered to $70 from $82 at UBS
UBS analyst Marc Goodman lowered his price target on Eli Lilly to $70 from $82 following the halt of its solanezumab drug trial for Alzheimer's. The analyst removed his sales estimates for solanezumab and said that without its contribution he is less optimistic for top-line growth. Goodman recommends investors stay on the sidelines and reiterated his Neutral rating on Eli Lilly shares.

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