Roth Capital Maintains Buy On Alcobra Following First Patient Enrollment In Fragile X Study


In a research report published today, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on Alcobra Pharma (NASDAQ:ADHD), following first patient enrollment in a phase IIb study on its lead candidate, metadoxine extended release. MDX is being developed for the treatment of fragile X syndrome.

Chattopadhyay noted, “With the enrollment of the first Fragile X patient in the phase 2 study we highlight key differences between MDX and the recently discontinued Mavoglurant program, which in our opinion, represents a significant commercial opportunity for Alcobra. Note that the NPV of the Fragile X program is $6/share and is not reflected in our current 12-month price objective.”

The analyst added, “Mavoglurant is a metabotropic glutamate receptors (mGluR5) antagonist, and belonged to a class of therapies, which has been associated with the development of tolerance, potentially contributing to the lack of sustained therapeutic benefit. Metadoxine is a serotonin 5-HT2B receptor antagonist, and displays a dose-dependent, reversible reduction in basal transmission and enhancement of GABAergic inhibitory transmission via pre-synaptic modulation in striatal medium spiny neurons. This is likely to have a more profound impact on the cognitive and executive functions in patients with Fragile X.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debjit Chattopadhyay has a total average return of 3.6% and a 42.1% success rate. Chattopadhyay has a 1.0% average return when recommending ADHD, and is ranked #1629 out of 3260 analysts.

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