Morgan Keegan Reports Baxter to Initiate Second PIII Alzheimer's Disease Trial

Morgan Keegan has published a research report following a positive notification from the data safety monitoring board that has given Baxter International, Inc. (NYSE: BAX) the go-ahead to initiate a second Phase III study.

“We view the outcome of the futility analysis as encouraging, but note that the risks to a successful outcome remain significant. Accordingly, we remain conservative in our modeling and are not assuming any revenues associated with Alzheimer's Disease in our 10-year DCF. We maintain our Outperform rating and $60 price target,” Morgan Keegan commented in the report.

Baxter International, Inc. closed yesterday at $52.78.