Rodman & Renshaw initiated coverage of Anavex (AVXL) with a Buy rating and $20 price target implying 500% upside from the current share price. The company is developing oral therapies that modulate autophagy to treat central nervous system diseases, the analyst tells investors in a research note. The firm says its thesis centers on blarcamesine, a once daily oral SIGMA1b receptor activator expected to enter a Phase 3 trial in early Alzheimer’s disease by the end of 2026.
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