William Blair analyst Myles Minter has maintained their bullish stance on AXSM stock, giving a Buy rating on March 14.
Myles Minter has given his Buy rating due to a combination of factors related to Axsome Therapeutics’ promising developments in narcolepsy treatment. A key driver for this positive outlook is the successful Phase III SYMPHONY trial of AXS-12 (reboxetine) in type-1 narcolepsy, which demonstrated a significant reduction in weekly cataplexy attacks compared to placebo. This trial’s results, presented at the American Academy of Neurology meeting, highlight the potential of AXS-12 as an underappreciated asset in Axsome’s portfolio.
Minter also anticipates that Axsome’s upcoming NDA filing for AXS-12 in the second half of 2025 could further enhance the company’s market position. Despite the current investor focus on Axsome’s other products like Auvelity, the positive data from the SYMPHONY trial positions AXS-12 as a valuable addition to the treatment landscape for narcolepsy. These developments, coupled with insights expected from expert discussions, underpin Minter’s confidence in Axsome’s growth potential, justifying the Buy rating.
In another report released on March 14, Mizuho Securities also reiterated a Buy rating on the stock with a $212.00 price target.