Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Axsome Therapeutics (AXSM – Research Report), retaining the price target of $200.00.
Ram Selvaraju has given his Buy rating due to a combination of factors, primarily driven by the promising results from Axsome Therapeutics’ EMERGE Phase 3 trial for SYMBRAVO. The trial demonstrated that SYMBRAVO, a novel treatment for migraines, achieved statistically significant improvements in migraine treatment response compared to existing oral CGRP inhibitors. This was measured using the Migraine Treatment Optimization Questionnaire, where SYMBRAVO showed superior outcomes.
Furthermore, the trial highlighted several key benefits of SYMBRAVO, including rapid relief from migraine pain within two hours, which was sustained for up to 48 hours after a single dose. A significant proportion of patients reported improved ability to return to normal activities and plan daily routines, enhancing overall quality of life. These compelling clinical outcomes provide a strong foundation for Axsome’s commercial strategy as they prepare for the U.S. launch of SYMBRAVO, thus supporting the Buy rating.
Selvaraju covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Vanda, and Anavex Life Sciences. According to TipRanks, Selvaraju has an average return of 3.6% and a 38.08% 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.
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