Axsome Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $180.00 price target.
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Ram Selvaraju has given his Buy rating due to a combination of factors that highlight Axsome Therapeutics’ strong position in the central nervous system (CNS) arena. The company’s recent Brain Health R&D Day showcased the potential of its diverse pipeline, emphasizing the synergistic opportunities across its portfolio. Notably, the potential applications of AUVELITY and SUNOSI in major depressive disorder, as well as the use of solriamfetol and AXS-12 in sleep disorders, underscore the company’s strategic focus on addressing significant unmet needs in neurology.
Additionally, Axsome’s product franchises are poised for substantial growth, with AUVELITY already reaching a significant number of new patients and tracking towards impressive revenue figures. The company’s expectations for peak sales across its portfolio, including the promising AXS-05 for chronic agitation in Alzheimer’s patients, further support the Buy rating. The potential for multiple product approvals and the substantial annual peak sales forecast highlight Axsome’s robust growth trajectory and market potential, reinforcing Selvaraju’s positive outlook on the stock.
In another report released today, Needham also maintained a Buy rating on the stock with a $150.00 price target.