Mizuho Securities analyst Graig Suvannavejh has maintained their bullish stance on AXSM stock, giving a Buy rating on March 11.
Graig Suvannavejh’s rating is based on several compelling factors. Axsome Therapeutics has demonstrated strong stock performance, significantly outpacing the broader market, which has bolstered investor confidence in its lead asset, Auvelity. However, Suvannavejh highlights the underappreciated potential of Axsome’s second commercial product, Sunosi, particularly in its ability to expand its label to treat conditions such as ADHD and MDD.
Sunosi, known commercially as solriamfetol, has already shown promising growth in revenue since Axsome acquired it from Jazz Pharmaceuticals. The drug’s unique profile as a dopamine-norepinephrine reuptake inhibitor positions it well for further market expansion. With ongoing Phase 3 trials in ADHD and MDD, and potential peak sales projections reaching up to $6 billion for additional indications, Suvannavejh sees significant upside potential, justifying his Buy rating.
Suvannavejh covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Apellis Pharmaceuticals, and Neumora Therapeutics, Inc.. According to TipRanks, Suvannavejh has an average return of -10.8% and a 37.40% success rate on recommended stocks.
In another report released on March 11, Piper Sandler also reiterated a Buy rating on the stock with a $148.00 price target.
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