Alcobra Ltd. (NASDAQ:ADHD), an emerging pharmaceutical company focused on the development of new medications to help patients with cognitive disorders, including Attention Deficit Hyperactivity Disorder (ADHD) and Fragile X Syndrome, today announced that all proposals were approved at the Company’s annual meeting held today in Tel Aviv, including the election of Dr. João Siffert to its Board of Directors.
Dr. Siffert brings over 20 years of executive-level pharmaceutical industry and clinical experience. He currently serves as the Executive Vice President of Research and Development and Chief Medical Officer (CMO) of Avanir Pharmaceuticals Inc. (subsidiary of Otsuka Pharmaceutical). Dr. Siffert joined Avanir in August 2011 and has led therapeutic development programs in dementia, depression, neuropathic pain, migraine and Parkinson’s disease. Dr. Siffert previously served as VP and CMO at Ceregene, Inc., focused on the development of neurotrophic gene therapies for Alzheimer’s and Parkinson’s disease. Prior to this position, he served as the CMO at Avera Pharmaceuticals and held several positions with Pfizer. Dr. Siffert held academic positions at Beth Israel Medical Center and Albert Einstein College of Medicine, and completed residencies in pediatrics at New York University School of Medicine and in neurology at Harvard Medical School. Dr. Siffert holds an M.D. from the University of São Paulo, Brazil and an M.B.A. from the Columbia University Graduate School of Business in New York.
“João is one of the most recognized senior executives in the CNS pharmaceutical field today. His vision, strategic thinking and hands-on experience will be an important addition to Alcobra and we are very happy to welcome him to the Board,” said Howard B. Rosen, Chairman of Alcobra’s Board of Directors.
“I am excited to join Alcobra at a time where the company is entering the last phase of development for its lead candidate in ADHD,” said Dr. Siffert. “I look forward to contributing to the Board and providing supportive guidance to the management team as we build together a valuable CNS enterprise.” (Original Source)
Shares of Alcobra closed last Friday at $6.46. ADHD has a 1-year high of $22.19 and a 1-year low of $3.12. The stock’s 50-day moving average is $7.19 and its 200-day moving average is $6.33.
On the ratings front, Alcobra has been the subject of a number of recent research reports. In a report issued on June 24, Piper Jaffray analyst Charles Duncan maintained a Buy rating on ADHD, with a price target of $21, which implies an upside of 225.1% from current levels. Separately, on May 31, Roth Capital’s Debjit Chattopadhyay reiterated a Buy rating on the stock and has a price target of $10.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Charles Duncan and Debjit Chattopadhyay have a total average return of 15.7% and 29.9% respectively. Duncan has a success rate of 55.8% and is ranked #422 out of 3694 analysts, while Chattopadhyay has a success rate of 64.5% and is ranked #21.
Alcobra Ltd is a biopharmaceutical company which engaged in the development and commercialization of its proprietary oral drug candidate, MDX, to treat ADHD and other cognitive dysfunctions including Fragile X Syndrome.