Axsome Therapeutics (AXSM – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $200.00 price target.
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Ram Selvaraju gave his rating based on several factors emphasizing Axsome Therapeutics’ strong commercial performance and strategic growth initiatives. Notably, the company has demonstrated impressive results with its flagship product, AUVELITY™, which saw a significant increase in prescriptions and strong payer coverage. This growth is complemented by a completed expansion of the AUVELITY sales force and impending direct-to-consumer promotional efforts, setting the stage for robust competition in the market.
In addition to commercial success, Axsome Therapeutics is poised for further growth through several upcoming clinical and regulatory milestones. The company is preparing to file for new drug applications for multiple products, including AXS-14 for fibromyalgia and AXS-12 for ADHD. Moreover, Axsome is conducting critical Phase 3 trials for products targeting various disorders, with top-line results expected in the near future. These efforts underscore the company’s potential for sustained long-term growth, supporting Selvaraju’s Buy rating.
Selvaraju covers the Healthcare sector, focusing on stocks such as Vanda, Axsome Therapeutics, and Anavex Life Sciences. According to TipRanks, Selvaraju has an average return of 5.3% and a 40.52% success rate on recommended stocks.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $153.00 price target.