Morgan Stanley analyst Sean Laaman has maintained their bullish stance on AXSM stock, giving a Buy rating on July 18.
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Sean Laaman has given his Buy rating due to a combination of factors related to Axsome Therapeutics’ promising clinical development pipeline. The company recently held an R&D Day where they highlighted significant progress in their research, particularly with AXS-05 for Alzheimer’s disease agitation (ADA). The clinical data for AXS-05 is compelling, with three out of four Phase 3 studies showing statistically significant improvements over placebo, indicating strong potential for addressing agitation in Alzheimer’s patients.
Furthermore, Axsome’s broader pipeline includes solriamfetol, which is advancing in late-stage clinical trials for conditions like ADHD and major depressive disorder with excessive daytime sleepiness. The potential of solriamfetol as a nonstimulant treatment option is particularly noteworthy, addressing unmet needs in various patient populations. These developments, along with the recent approval of Symbravo for acute migraine, underscore Axsome’s robust pipeline and growth potential, justifying the Buy rating.
According to TipRanks, Laaman is a 3-star analyst with an average return of 3.6% and a 56.90% success rate. Laaman covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals, Halozyme, and Jazz Pharmaceuticals.
In another report released on July 18, Mizuho Securities also reiterated a Buy rating on the stock with a $210.00 price target.