BofA analyst Jason Gerberry raised the firm’s price target on Axsome Therapeutics (AXSM) to $167 from $143 and keeps a Buy rating on the shares after the company announced a patent settlement pertaining to Auvelity, which includes a license for sole generic challenger Teva (TEVA) to come to market in the 2038-39 time frame. The firm previously assumed a 2034 Auvelity loss of exclusivity and the extension of the runway by four years adds $24 per share to its valuation, the analyst tells investors.
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Read More on AXSM:
- Axsome Therapeutics price target raised to $195 from $137 at Mizuho
- TD ups Axsome target, sees takeout speculation on patent settlement
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- Axsome Therapeutics price target raised to $150 from $110 at Leerink
- Analyst Upgrades Axsome to Buy Amid Key Settlement with Teva and Raised Price Target
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