Analyst Ami Fadia of Needham maintained a Buy rating on Axsome Therapeutics, boosting the price target to $154.00.
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Ami Fadia’s rating is based on Axsome Therapeutics’ strong financial performance and strategic advancements. The company reported third-quarter revenues that exceeded expectations, driven by higher-than-anticipated sales of Auvelity and Sunosi, which were bolstered by increased demand and improved payer coverage. Additionally, the successful launch of Symbravo, with promising initial sales and expanding payer coverage, further supports the positive outlook.
Ami Fadia also highlights Axsome’s strategic partnerships with major Group Purchasing Organizations (GPOs), which enhance the company’s market access and potential formulary coverage. Furthermore, the progress in Axsome’s pipeline, including the submission of a supplemental New Drug Application for AXS-05 and the upcoming NDA submission for AXS-12, indicates a robust development trajectory. These factors collectively contribute to the Buy rating, reflecting confidence in Axsome’s continued growth and market potential.
Fadia covers the Healthcare sector, focusing on stocks such as Immuneering, Biogen, and Merus. According to TipRanks, Fadia has an average return of 19.4% and a 51.80% success rate on recommended stocks.