In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Axsome Therapeutics (AXSM – Research Report), with a price target of $200.00.
Ram Selvaraju has given his Buy rating due to a combination of factors related to Axsome Therapeutics’ strategic developments and potential market advantages. One significant aspect is the recent settlement agreement with Hikma Pharmaceuticals regarding the patent litigation over Sunosi. This settlement could potentially secure market exclusivity for Sunosi until 2040, which would shield it from generic competition and enhance its market position.
Additionally, Axsome’s progress with AXS-05 for Alzheimer’s-associated agitation is another pivotal factor. The company has received positive feedback from the FDA, indicating a clear path for the submission of a supplemental New Drug Application. The potential approval and subsequent market introduction of AXS-05 could significantly enhance Axsome’s product portfolio and revenue streams. These developments underpin Selvaraju’s confidence in the company’s future prospects, justifying the Buy rating and a 12-month price target of $200 per share.
In another report released on March 4, Mizuho Securities also maintained a Buy rating on the stock with a $212.00 price target.
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