Just saw a number of upgrades published this morning, here are the highlights from CMC:

19/12/20238:44AM Dow JonesNeuren Pharmaceuticals Price Target Raised 54% to A$27.00/Share by Bell Potter (headline only)

19/12/20238:44AM Dow JonesNeuren Pharmaceuticals Upgraded to Buy from Hold by Bell Potter (headline only)

19/12/20238:39AM Dow JonesNeuren Pharmaceuticals Price Target Raised 27% to A$31.10/Share by Petra Capital (headline only)

19/12/20238:17AM Dow JonesNeuren Pharmaceuticals Price Target Raised 33% to A$27.10/Share by Jefferies (headline only)

19/12/20238:17AM Dow JonesNeuren Pharmaceuticals Target Price Raised 19% to A$27.23/Share by Wilsons>NEU.AU (headline only)

Link to release: Phase 2 trial results: significant improvement

Highlights:

• Significant improvement was assessed by both clinicians and caregivers across multiple efficacy measures
• Improvements were consistently seen across clinically important aspects of Phelan-McDermid syndrome, including communication, behaviour, cognition/learning and socialisation
• Clinician and caregiver global efficacy measures showed a level of improvement typically considered clinically meaningful:
• Clinical Global Impression of Improvement (CGI-I) - mean score of 2.4, with 16 out of 18 children showing improvement assessed by clinicians
• Caregiver Overall Impression of Change (CIC) – mean score of 2.7, with 15 out of 18 children showing improvement assessed by caregivers •
• For 10 out of 14 efficacy endpoints, improvement from baseline on overall/total scores was statistically significant (Wilcoxon signed rank test p<0.05)
• NNZ-2591 was safe and well tolerated, with no clinically significant changes in laboratory values or other safety parameters during treatment