Roth Capital Reiterates Buy On Alcobra Following The Completion Of Phase III Clinical Trial of MDX
In a research report issued today, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on Alcobra Ltd (NASDAQ:ADHD) with a price target of $40.00, following the completion of all patient visits in phase III clinical trial of the company’s MDX in adult ADHD.
Chattopadhyay noted, “All scheduled follow-up visits have been completed in Alcobra’s phase 3 study of Metadoxine Extended Release (MDX) in adult ADHD patients. Note the enrollment criteria, study design/duration, primary/secondary endpoints, and dropout rates closely approximate the successful phase 2b study. Also recall that in the phase 3 study 39% of the patients are ADHD-I (40% in the phase 2b). For risk-tolerant investors we recommend accumulation of shares.”
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 3.3% and a 36.7% success rate. Chattopadhyay has a -7.5% average return when recommending ADHD, and is ranked #1540 out of 3293 analysts.