Axovant Sciences (AXON) PT Lowered to $25 at Cowen; Lewy Body Program Remains Focus

Cowen analyst Ritu Baral lowered his price target on Axovant Sciences (NASDAQ: AXON) to $25.00 (from $30.00) while maintaining an Outperform rating after the company reported the pivotal Ph3 MINDSET trial of intepirdine in Alzheimer's failed to meet its primary endpoint.

Baral notes they have been cautious on the AD opportunity and continue to see strongest potential for pipeline value with the Lewy Body Dementia programs (both intepirdine and nelotanserin), with multiple readouts expected in Q4

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