Axovant Gene Therapies Ltd (AXGT)

[Ramiel]

H.C. Wainwright analyst Andrew Fein notes that Lundbeck announced that its idalopirdine missed its primary and secondary endpoints in the STARSHINE Phase 3 study in mild/moderate Alzheimer's disease. However, Fein says that idalopirdine miss does not shake his confidence in Axovant's RVT-101 as he believes Lundbeck may have simply not been able to dose idalopirdine high enough in the Phase 3 program, which minimizes read-through to Axovant's MINDSET Phase 3 study. He continues to believe that Axovant's own experimental Alzheimer's therapy is well positioned for a win. Fein reiterates a Buy rating and $35 price target on Axovant's shares.