Deutsche Bank Initiates Buy On Avanir Pharmaceuticals; Sees 27% Upside For The Stock
In a research report sent to investors today, Deutsche Bank analyst Alethia Young initiated coverage on Avanir Pharmaceuticals (NASDAQ:AVNR) with a Buy rating and a $17 price target, which represents a potential upside of 27% from where the stock is currently trading.
Young noted, “Avanir’s lead asset is AVP-923 which is being developed in various CNS indications & is on market for one. Recently Ph2 AVP-923 data surprised Ph2 on another indication, agitation in Alzheimer’s disease (AD). In this report, we conducted a deep dive on the global AD agitation market. Our takeaways are 1) we think AD agitation has blockbuster potential in the US, 2) we see further expansion opportunities in CNS for their lead asset, and 3) a larger pharma player could help expand global AD agitation opportunity.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Alethia Young has a total average return of 5.2% and a 60.9% success rate. Young is ranked #1278 out of 3358 analysts.