Axsome Therapeutics: Buy Rating Affirmed Amid Promising Pipeline Developments and Strategic Focus

Leerink Partners analyst Marc Goodman has maintained their bullish stance on AXSM stock, giving a Buy rating yesterday.

Marc Goodman has given his Buy rating due to a combination of factors that highlight Axsome Therapeutics’ potential for growth despite recent setbacks. The company’s pipeline includes promising opportunities such as the upcoming NDA submission for Auvelity in Alzheimer’s disease agitation expected in the third quarter of 2025, and the NDA submission for AXS-12 in narcolepsy in the second half of 2025. These developments are seen as key growth drivers for the company.
Goodman’s rating also considers the fact that the recent Refusal to File (RTF) letter for AXS-14 in fibromyalgia does not significantly impact the overall investment thesis. The AXS-14 was not a major component of the valuation and its differentiation from the standard of care was unclear. The company plans to address the FDA’s concerns with a new trial, but the focus remains on other promising areas of their pipeline. Therefore, the Buy rating reflects confidence in Axsome’s strategic direction and future prospects.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AXSM in relation to earlier this year.