Quantumup
Nov 4, 12:16 PM
Wells Fargo⬆️
$ALKS's PT to
$68 from
$65 and reiterated Overweight
[CNTA - LLY TAK OTSKY AXSM SUPN]
Wells Fargo said in its note: We like the potential for IH data to unlock add'l value for sleep, but also for its potential to de- risk wake-promoting effects in orexin-normal pts.
For Vib-3, we think split dosing will work, and we like the pooled pbo stats design. PT to
$68.
Inbound investor Q's have been largely focused on the orexin programs, w/ interest in the upcoming IH readout, as well as non-sleep pursuits.
IH matters near term; we're positive given the split dosing strategy, and pooling the pbo arms ought to mitigate some variability. We think the IH commercial opp'y is meaningful, but we're also focused on the pot'l for Vib.3 to demonstrate efficacy in orexin-normal patients.
If pos., we think appetite to own '7290 & '4510 catalysts increases.
