Needham analyst Ami Fadia maintained a Buy rating on Axsome Therapeutics (AXSM – Research Report) today and set a price target of $153.00.
Ami Fadia has given his Buy rating due to a combination of factors surrounding Axsome Therapeutics’ recent developments. The company has announced that it received positive feedback from the FDA regarding its proposed submission for AXS-05, aimed at treating agitation in Alzheimer’s disease. This submission includes a comprehensive clinical package with four completed Phase 3 efficacy trials and a long-term safety trial, which strengthens the potential for approval.
Ami Fadia’s confidence is further bolstered by the company’s decision to pursue a supplemental NDA, allowing the new indication to share the same brand name and pricing as its existing treatment for major depressive disorder. This strategic move is expected to enhance payer coverage, thereby supporting the stock’s positive momentum. The anticipated submission timeline in the third quarter of 2025, earlier than previously guided, adds to the optimistic outlook for Axsome Therapeutics.
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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