Targacept buoyed by AZ's commitment to Alzheimer's program

Shares of Targacept ($TGRT) were buoyed this morning by the news that AstraZeneca ($AZN) is committing its support for the experimental Alzheimer's drug AZD1446, which is moving into a midstage study. That's good news for Targacept, which has been forced to concede recently that the first two late-stage studies for a depression drug partnered with AstraZeneca have failed. Release