William Blair analyst Myles Minter has reiterated their bullish stance on AXSM stock, giving a Buy rating yesterday.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Myles Minter has given his Buy rating due to a combination of factors that underscore Axsome Therapeutics’ strong commercial trajectory and de-risked growth profile. He highlights that preliminary fourth-quarter and full-year revenues for Auvelity and Sunosi exceeded expectations, reinforcing confidence in the company’s ability to execute commercially. In addition, he emphasizes the strength of Axsome’s pipeline, noting that much of it is clinically de-risked, which lowers development uncertainty while preserving meaningful upside.
Minter also points to the FDA’s acceptance of the supplemental NDA for Auvelity in Alzheimer’s disease agitation, along with the granting of priority review and an April 30, 2026 PDUFA date, as a key value driver. He assigns a high probability of approval for this indication and sees it as a multibillion-dollar peak sales opportunity that can significantly expand Auvelity’s use beyond major depressive disorder. Finally, he underscores Axsome’s solid cash position, which is expected to fund the company through cash-flow breakeven and profitability, supporting his view of Axsome as a core, high-quality smidcap growth biotech suitable for long-term investors.
According to TipRanks, Minter is a 5-star analyst with an average return of 26.9% and a 57.14% success rate. Minter covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals, Intellia Therapeutics, and VistaGen Therapeutics.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $225.00 price target.