Leerink Partners analyst Marc Goodman has maintained their bullish stance on AXSM stock, giving a Buy rating yesterday.
Marc Goodman has given his Buy rating due to a combination of factors surrounding Axsome Therapeutics’ recent developments. The positive data from the Symbravo study, which targets acute migraine in adults, plays a crucial role in this decision. The study results indicate that Symbravo shows a significantly better response compared to previous CGRP inhibitors, particularly in patients who had poor responses to anti-CGRP treatments. This suggests a strong potential for Symbravo to capture a substantial market segment.
Furthermore, the study highlights Symbravo’s effectiveness in providing rapid and sustained pain relief, as well as improving patients’ ability to return to normal activities. These findings are expected to boost sales forecasts and improve market access dynamics. Additionally, the anticipation of upcoming data from other Axsome products, such as Sunosi in ADHD and MDD, adds to the positive outlook for the company’s stock.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $212.00 price target.
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