Morgan Stanley raised the firm’s price target on Axsome Therapeutics (AXSM) to $190 from $125 and keeps an Overweight rating on the shares. Following the release of Phase 3 data for AXS-05 in Alzheimer’s disease agitation near the end of 2024, Axsome has reported multiple pipeline developments in 2025, including the “key updates” of the Teva (TEVA) settlement on Auvelity and the approval of Symbravo for migraine, says the analyst, who increased the terminal value for AXS-05.
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