Roth Capital Sees A Buy Opportunity In Alcobra Following Initiation Of Fragile X Phase 2b Study
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, following the news that Alcobra has initiated a phase 2b in adolescents with ADHD. Importantly, Alcobra will be reporting data from its phase 3 in adults with ADHD in September.
Chattopadhyay wrote, “Recall that the enrollment criteria, study design/duration, and primary/secondary endpoints closely approximate the successful phase 2b study. Based on MDX’s impact on cognitive function, we anticipate a robust readout in patients with ADHD-I. For risk-tolerant investors, we recommend buying ahead of the data.”
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 2.2% and a 36.4% success rate. Chattopadhyay has a -12.9% average return when recommending ADHD, and is ranked #1817 out of 3255 analysts.