Analyst Jason Gerberry of Bank of America Securities reiterated a Buy rating on Axsome Therapeutics (AXSM – Research Report), retaining the price target of $167.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Jason Gerberry has given his Buy rating due to a combination of factors, primarily focusing on Axsome Therapeutics’ promising product pipeline and strong market performance. The company’s flagship product, Auvelity, designed for major depressive disorder, demonstrated significant growth in the fourth quarter and is projected to achieve over $1 billion in revenue, especially with potential expansion into Alzheimer’s treatment by 2026.
Furthermore, Axsome Therapeutics is poised for an impactful 2025 with multiple NDA filings and clinical trial readouts, which are expected to diversify its portfolio and enhance its market position. Additionally, the company’s market valuation is considered attractive, with the potential for underappreciated peak sales opportunities. These elements contribute to a realistic growth outlook and underpin Gerberry’s confidence in maintaining a Buy recommendation.
Gerberry covers the Healthcare sector, focusing on stocks such as Exelixis, Teva Pharmaceutical, and Axsome Therapeutics. According to TipRanks, Gerberry has an average return of 1.4% and a 44.60% success rate on recommended stocks.
In another report released today, Guggenheim also maintained a Buy rating on the stock with a $195.00 price target.