Selected stock price target news of the day - December 26th, 2024

By: Matthew Otto

Anavex Advances Alzheimer’s Treatment with EMA Application Amid Financial Highlights

Anavex Life Sciences reported its financial and operational results for the fourth quarter and fiscal year ending September 30, 2024. Advancements in its Alzheimer’s disease program was highlighted, particularly the European Medicines Agency’s acceptance of the Marketing Authorization Application (MAA) for blarcamesine (ANAVEX®2-73).

Alzheimer’s disease affects an estimated 7 million people in Europe. This number projected to double to 14 million by 2030, according to the European Brain Council. Anavex plans to present additional long-term Phase IIb/III trial data at the J.P. Morgan 2025 Healthcare Conference in January.

Financially, Anavex ended the fiscal year with $132.2 million in cash and equivalents, down from $151.0 million the prior year. For the fourth quarter, Anavex reported a net loss of $11.6 million, or $0.14 per share, compared to $10.1 million, or $0.12 per share, in the same period of 2023.

Operating expenses for the quarter increased to $14.3 million, primarily due to research and development costs rising to $11.6 million. Annually, Anavex reported $52.9 million in operating expenses, a reduction from $55.8 million in fiscal 2023.

Beyond Alzheimer’s, preliminary data from the ongoing ANAVEX®3-71 schizophrenia study showed dose-dependent effects on EEG biomarkers, targeting a condition that affects more than 24 million people worldwide.

Analyst Raises Price Target Amid Alzheimer’s Treatment Progress

HC Wainwright & Co. analyst Raghuram Selvaraju maintained a Buy rating and raised the price target from $40 to $42.

Which Analyst has the best track record to show on AVXL?

Analyst Raghuram Selvaraju (HC WAINWRIGHT) currently has the highest performing score on AVXL with 4/14 (28.57%) price target fulfillment ratio. His price targets carry an average of $30.87 (338.12%) potential upside. Anavex Life Sciences stock price reaches these price targets on average within 155 days.

Investigation Into Celsius Holdings, Inc. Securities Litigation

Faruqi & Faruqi, LLP and The Gross Law Firm have launched investigations into Celsius Holdings for alleged securities violations during the class period from February 29, 2024, to September 4, 2024.

The lawsuits allege Celsius issued misleading statements that artificially inflated its stock price, ultimately causing financial losses to shareholders. Over 21.6 million shares were sold by insiders during the class period, generating more than $1.4 billion in proceeds, while the market price of Celsius common stock fell sharply as the alleged facts were revealed. Investors with losses exceeding $75,000 are encouraged to contact legal counsel, with the deadline for seeking lead plaintiff status set for January 21, 2025.

Background details indicate that Celsius Holdings grew in recent years, attracting substantial investor interest in its energy drink products and business model. During the class period, it is estimated that thousands of individual and institutional investors purchased shares at inflated prices. Analysts project total shareholder losses could exceed hundreds of millions of dollars as the stock price adjustment reflects the alleged misrepresentations.

Legal proceedings are expected to incur millions in litigation costs, including expert testimony, discovery, and legal representation fees. Shareholders who join the class action will gain access to monitoring services to track the case’s developments without initial financial obligations.

Analyst Maintains Rating and Target Amid Ongoing Securities Litigation

Morgan Stanley analyst Eric Serotta maintained an Equal-Weight rating and a $42 price target.

Which Analyst has the best track record to show on CELH?

Analyst Gerald Pascarelli (NEEDHAM) currently has the highest performing score on CELH with 5/16 (31.25%) price target fulfillment ratio. His price targets carry an average of $9.23 (32.08%) potential upside. Celsius Holdings stock price reaches these price targets on average within 113 days.

PolyPid Advances SHIELD II Trial for D-PLEX100, Targeting Millions at Risk of Surgical Infections

PolyPid has reported progress in its SHIELD II Phase 3 trial evaluating D-PLEX100 for the prevention of surgical site infections (SSIs) in patients undergoing abdominal colorectal surgeries with large incisions. SSIs are a serious healthcare concern, affecting approximately 300,000 patients annually in the United States, with abdominal surgeries accounting for a significant proportion.

To date, the SHIELD II trial has enrolled 630 of the planned 800 patients. Remaining 170 patients expected to enroll by Q1 2025. Upon anticipated top-line results in Q2 2025, D-PLEX100 could proceed to NDA submission under its Fast Track and Breakthrough Therapy designations, aiming for regulatory approval to benefit this substantial patient population.

Globally, over 1.3 million abdominal colorectal surgeries are performed annually. Beyond the trial, PolyPid secured $14.5 million in private placement financing, extending its operational runway into Q3 2025. If the $27.0 million in associated warrants are exercised, PolyPid’s cash reserves could support activities well beyond potential NDA approval.

Analyst Maintains Rating and Lowers Price Target Amid SHIELD II Trial Progress

HC Wainwright & Co. analyst Raghuram Selvaraju maintained a Buy rating and lowered the price target from $14 to $11.