Thursday, November 22, 2018 @ 2:30 pm
The independent life science equity research company, Van Leeuwenhoeck, has issued an equity research report highlighting the Addex investment opportunity. Following a pharma deal and CHF40 million capital increase earlier this year, and a pipeline of mid- to late-stage clinical candidates, analyses in the report notes a current significant undervaluation of Addex, which is trading currently at a CHF67 million market capitalization. In particular, with registrational studies of dipraglurant for dyskinesia associated with Parkinson’s disease scheduled to begin in H2 2019, they believe the share price should see significant appreciation from its current level of CHF2.35 per share towards their price target of CHF14 per share.
“We believe Addex’s recent financing and deal-making has remained under the radar of most investors which explains why the company is grossly undervalued, particularly as the clinical pipeline is well-financed through to pivotal data,” said Marcel Wijma, Chief Research Analyst at Van Leeuwenhoeck Institute. “Added to this, Addex has a world leading position in allosteric modulation and broad pipeline, which was recently validated by a preclinical CNS pharma deal, leads us to recommend that Addex provides an exceptional investment opportunity for investors.”