Axsome Therapeutics price target raised to $150 from $110 at Leerink

Leerink raised the firm’s price target on Axsome Therapeutics (AXSM) to $150 from $110 and keeps an Outperform rating on the shares. The settlement with Teva (TEVA) is “clearly great news,” the analyst tells investors in a research note. The firm says the settlement is a “major disincentive” for other generic companies to file their own abbreviated new drug applications “given the expense to bust the significant number of patents filed in the Orange Book and that they would then have to share with Teva.” Leerink thinks another generic filer is unlikely to occur any time soon. It now assumes another four more years of Auvelity sales out to the March 31, 2039.