William Blair analyst Myles Minter has reiterated their bullish stance on AXSM stock, giving a Buy rating today.
Myles Minter’s rating is based on the promising regulatory progress and potential market impact of Axsome Therapeutics’ AXS-05 for Alzheimer’s disease agitation. The company has received positive feedback from the FDA, indicating that their data package is sufficient for a supplemental New Drug Application (sNDA) submission. This development suggests confidence in the drug’s approvability and positions it as a potential blockbuster in the neuropsychiatric field.
Furthermore, Axsome’s strategic decision to proceed with an sNDA filing, rather than a full NDA, is seen as advantageous. This approach aligns with their recent settlement with Teva, which protects the market exclusivity of their product until at least 2038. Such strategic maneuvers, combined with expert opinions and the evolving clinical landscape, reinforce the Buy rating as Axsome is well-positioned for future growth and success.
In another report released today, Robert W. Baird also maintained a Buy rating on the stock with a $160.00 price target.
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