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Adamas Pharmaceuticals initiated with an Outperform at Leerink.

Leerink analyst Marc Goodman started Adamas Pharmaceuticals with an Outperform and $20 price target as he initiates Neuroscience space with a Positive View. The analyst believes the Neuroscience sector is experiencing a "renaissance" as multiple new agents and mechanisms are coming up the pipeline across major therapeutic areas, the number of clinical studies is growing nicely, and the FDA is friendly to innovation in this space, companies are getting smarter about speed-to-market strategies and selecting niche sub-populations to focus on for initial product approvals, payer pushback on usage is much lower than in other categories, and physicians are enthusiastic about new agents. Regarding Adamas Pharmaceuticals, Goodman notes that Gocovri is in the early stages of growth and despite the slow launch, he believes it has potential to drive about $300M of sales in 2029 for its lead indication in the treatment of dyskinesias in Parkinson's Disease patients

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Publication:The Fly
Date:Nov 13, 2018
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