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Fly News Breaks for November 8, 2019
ADMS
Nov 8, 2019 | 06:32 EDT
JMP Securities analyst Jason Butler lowered his price target on Adamas Pharmaceuticals to $16 after its Q3 earnings miss driven by higher than expected SG&A expenses and slightly-below-consensus GOCOVRI sales. The analyst still keeps his Outperform rating on confidence that the "refreshed" management team can reinvigorate the GOCOVRI launch but lowers his projected peak penetration sales to $250M from $550M. Butler is also removing the ADS-4101 from his model until there is more clarity on its path forward.
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