| Firm | Analyst | | Hapoalim Securities USA, Inc. | Jon LeCroy, M.D. | | Ladenburg Thalmann | Juan Sanchez, M.D. | | Lazard Capital Markets | Terence Flynn, Ph.D. | | Leerink Swann | Joshua Schimmer, M.D. | | Needham & Company, LLC | Alan Carr | | Oppenheimer | Bret Holley, Ph.D. | | Wedbush Securities | Kimberly Lee, D.O. |
| Notice to Readers: Targacept is followed by the analysts listed above. This list will change periodically as analysts start or terminate coverage of Targacept and due to turnover, promotions and the like at the listed firms. For this reason, the list may not be complete. Targacept is providing the list as a service only and does not by its reference above or distribution imply its endorsement of, adoption of or concurrence with any opinion, recommendation, conclusion, information, forecast, estimate or report made or provided by any of these analysts. Any opinion, conclusion, forecast or estimate regarding the performance of Targacept that is made or provided by any of these analysts is the analyst’s alone and does not represent the opinion, conclusion, forecast or estimate of Targacept or its management. Targacept disclaims any responsibility for any information provided in any analyst report, including any inaccuracies. Some of the firms listed above may be market-makers in Targacept's stock, hold other long or short positions in the stock or provide services to Targacept for which they receive compensation from Targacept. |