Aug. 17 at 11:52 AM
UBS⬆️
$ACAD's PT to
$49 from
$45, reiterated Buy and said -- We are bullish on ACAD's remlifanserin first ADP readout expected between September and October this year.
$BMY $AXSM CGTX LLY BIIB PFE ABBV JNJ OTSKY
UBS added—We raise our POS for remlifanserin in ADP to 50% (from 40%), above our typical assumption for a Ph2 asset, reflecting our increased conviction; we believe the combination of a next-generation molecule and a thoughtfully designed trial increases the chances of success.
As a result, we increase our remlifanserin risk-adj. peak sales estimates to
$1.6BN (from
$1.3BN) vs cons ~
$0.9BN.
