Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Anavex Life Sciences (AVXL – Research Report) and keeping the price target at $42.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors including the recent rejection of Eli Lilly’s anti-amyloid drug, donanemab, by European regulators. This rejection highlights the unmet need for alternative treatments like Anavex’s blarcamesine, which could offer a safer option for Alzheimer’s disease patients. The European market presents a significant opportunity, with nearly 8 million people affected by Alzheimer’s, a number expected to double by 2030. Selvaraju anticipates a regulatory decision on blarcamesine’s Marketing Authorization Application by the end of the year, potentially leading to its launch in Europe by late 2026. The analyst also notes the likelihood of Anavex partnering with another company for commercialization in Europe to reduce risks.