Needham & Company Downgrades Targacept (TRGT) to Hold

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/12/2026

1. RKLB
2. SPY
3. ACVA
4. CRWV
5. RIOT
6. RPD
7. FERG
8. NVDA
9. HIMS
10. BBIO

November 8, 2011 12:28 PM EST
Get Alerts TRGT Hot Sheet
Price: $0.96 --0%

Rating Summary:
    0 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 23 | New: 12
Join SI Premium – FREE
Needham & Company downgraded Targacept (NASDAQ: TRGT) from Strong Buy to Hold.

The firm comments, "Targacept and collaborator AstraZeneca (NYSE: AZN) announced this morning that the first of four Phase 3 trials of TC-5214 as an adjunct therapy for depression did not meet its primary endpoint. Because this trial was the most similar in design to the successful flexible-dose Phase 2b trial completed in 2009, we do not have confidence in the outcome of the remaining Phase 3 trials, which are expected to be completed in 1H12."

For an analyst ratings summary and ratings history on Targacept click here. For more ratings news on Targacept click here.

Shares of Targacept closed at $19.12 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Downgrades

Related Entities

Needham & Company